12月PMI数据：基建前置发力，预计2024年GDP约5.0%

Group 1: Economic Indicators - The official manufacturing PMI for December 2024 is 50.1%, slightly below the expected 50.3% and the previous value of 50.3%[24] - The official non-manufacturing PMI for December 2024 is 52.2%, exceeding the expected 50.2% and the previous value of 50.0%[24] - The GDP growth rate for 2024 is projected to be approximately 5.0%, supported by effective implementation of existing policies and accelerated introduction of new policies[3] Group 2: Sector Performance - Manufacturing sector shows continuous expansion for three months, with a slight production decline but recovery in both domestic and external demand[24] - The construction industry PMI improved by 3.5 percentage points to 53.2%, driven by early project approvals and seasonal construction activity[30] - In the service sector, the PMI increased to 52.0%, with 17 out of 21 service industries showing improved conditions[34] Group 3: Investment and Forecasts - The total investment driven by two early 100 billion yuan projects is approximately 1.81 trillion yuan[30] - The forecast for Q4 2024 GDP growth is about 5.2%, with primary, secondary, and tertiary industries expected to grow at 4.1%, 5.2%, and 5.5% respectively[55] - The construction sector is expected to lead economic growth in 2025, with a more balanced issuance and utilization of special bonds compared to 2024[50]