2024年12月经济数据点评：四季度经济数据有哪些亮点

Economic Growth - Q4 GDP growth rate reached 5.4%, with an annual growth rate of 5%, and per capita GDP surpassed $13,000[1] - The nominal GDP growth rate for the year was 4.2%, which is 0.8 percentage points lower than the real GDP growth rate[1] Industrial Production - In December, industrial added value grew by 6.2% year-on-year, significantly higher than November's 5.4%, with an annual growth rate of 5.8%[2] - Q4 industrial and secondary industry added value growth rates were 5.6% and 5.2%, respectively, both higher than Q3[2] Export Performance - In 2024, China's export value reached $3.58 trillion, marking a historical high with a growth rate of 5.9%, exceeding the initial market expectation of around 2.5%[3] - Trade surplus also hit a record high, approaching $1 trillion, with significant contributions from exports to ASEAN, the US, and the EU[3] Investment Trends - Fixed asset investment cumulative year-on-year growth rate was 3.2% in December, down 0.1 percentage points from the previous month[4] - Real estate investment showed a cumulative year-on-year decline of 10.6%, indicating ongoing weakness in the sector[4] Consumer Spending - Retail sales of consumer goods grew by 3.7% year-on-year in December, slightly above the market expectation of 3.5%[5] - However, the month-on-month growth rate was only 0.12%, indicating a continued weakening of consumer momentum since September[5] Inflation and Price Levels - Q4 CPI and PPI year-on-year growth rates were 0.2% and -2.6%, respectively, with the GDP deflator showing a -0.8% growth rate, marking seven consecutive quarters of negative growth[1][4] Real Estate Market - The real estate market showed signs of recovery, with a year-on-year growth rate of 1% in commodity housing sales in Q4, an increase of 18 percentage points from Q3[2] - However, the overall real estate situation remains weak, with a cumulative decline in sales area of 12.9% for the year[4] Financial Market Activity - Financial market activity improved significantly, with daily trading volume in stock markets reaching an average of 18,216 billion yuan, a 170% increase from the previous quarter[2] - The financial sector's added value grew by 6.5% year-on-year, reflecting a recovery in market confidence[2] Risks and Challenges - Internal demand recovery remains unstable, with a need for continued policy support to stimulate investment and consumption[4] - The upcoming policy transition period poses uncertainties that could impact economic momentum going forward[5]