毕马威发布2025年四季度《中国经济观察》报告

Economic Growth - The report indicates that China's GDP grew by 5.2% year-on-year in the first three quarters of 2025, which is an increase of 0.4 percentage points compared to the same period last year, showing good progress towards the annual growth target of around 5% [1] Production Outlook - The report forecasts that the recovery of domestic demand will drive production restoration, supported by the deployment and utilization of policy financial tools. Manufacturing and infrastructure investment demand are expected to rebound, leading to a new round of production expansion for related equipment and upstream building materials [1] Consumer Trends - Service consumption has shown strong resilience in the first three quarters, with new consumption formats thriving and digital consumption experiencing robust growth. The report anticipates that the consumption market will receive support from online promotional events like "Double Eleven" and "Double Twelve," as well as offline consumption during holidays such as Mid-Autumn Festival and National Day [1] Investment Projections - The report suggests that manufacturing investment is likely to see a recovery in the fourth quarter. With policy support, infrastructure and real estate investments are also expected to gradually rebound, entering a new stable state [1]