1-2月份经济数据分析：今年的开门红有哪些不同？

Real Estate - In January-February 2025, real estate investment showed a cumulative year-on-year decline of -9.8%, an improvement from -10.6% in the previous period[33] - New housing sales area decreased by 5.1%, but the decline narrowed by 7.8 percentage points compared to the previous year, with a significant increase of 31.8% in sales area in 30 core cities in February[34] - The funding availability rate for real estate improved, indicating a recovery in market sentiment driven by policies aimed at stabilizing housing prices[33] Manufacturing - Manufacturing investment grew by 9.0% in January-February 2025, with high-tech industry investment increasing by 9.7%[20] - Equipment and tool purchase investment rose by 18%, continuing the trend from the previous year's 17% growth[20] - The automotive manufacturing sector saw a resurgence, with investment growth of 27% after a period of decline[20] Infrastructure - Narrowly defined infrastructure investment increased by 5.6%, down from 6.3% in the same period last year, indicating stable growth[22] - The net financing scale of government bonds reached 2.38 trillion yuan, significantly higher than the previous year's 0.89 trillion yuan, supporting infrastructure investment[29] - Water conservancy investment maintained high growth, while railway and road investment growth rates decreased[26] Employment - The urban survey unemployment rate averaged 5.3% in January-February 2025, with a slight increase to 5.4% in February[53] - Average working hours decreased to 47.1 hours per week, down from 49.1 hours, which may boost demand for services[55] - Employment policies are being implemented to support job creation, particularly in service sectors and small enterprises[54]