Report Summary 1. Report Industry Investment Rating There is no information about the industry investment rating in the provided content. 2. Core View In July 2025, under the strong leadership of the Party Central Committee with Comrade Xi Jinping as the core, the national economy maintained a steady - advancing development trend, with sustained growth in production and demand, overall stable employment and prices, the cultivation and expansion of new - quality productive forces, and new achievements in high - quality development [3]. 3. Summary by Relevant Catalogs Industry - In July, the national above - scale industrial added value increased by 5.7% year - on - year and 0.38% month - on - month. From January to July, it increased by 6.3% year - on - year. The manufacturing PMI was 49.3%, and the enterprise production and operation activity expectation index was 52.6%. From January to June, the total profit of above - scale industrial enterprises was 34365 billion yuan, a year - on - year decrease of 1.8% [3]. Service - In July, the national service industry production index increased by 5.8% year - on - year. From January to July, it increased by 5.9% year - on - year. The service industry business activity index was 50.0%, and the service industry business activity expectation index was 56.6%. Some industries were in the high - level boom range [4]. Consumption - In July, the total retail sales of consumer goods were 38780 billion yuan, a year - on - year increase of 3.7% and a month - on - month decrease of 0.14%. From January to July, the total retail sales of consumer goods were 284238 billion yuan, a year - on - year increase of 4.8%. The national online retail sales were 86835 billion yuan, a year - on - year increase of 9.2%. The service retail sales from January to July increased by 5.2% year - on - year [5]. Investment - From January to July, the national fixed - asset investment (excluding rural households) was 288229 billion yuan, a year - on - year increase of 1.6%. Excluding real estate development investment, it increased by 5.3%. Infrastructure investment increased by 3.2%, manufacturing investment increased by 6.2%, and real estate development investment decreased by 12.0% [6]. Import and Export - In July, the total value of goods imports and exports was 39102 billion yuan, a year - on - year increase of 6.7%. From January to July, the total value of goods imports and exports was 256969 billion yuan, a year - on - year increase of 3.5%. Exports increased by 7.3%, and imports decreased by 1.6% [7]. Price - In July, the national consumer price (CPI) was flat year - on - year and increased by 0.4% month - on - month. The core CPI increased by 0.8% year - on - year. The national industrial producer price index (PPI) decreased by 3.6% year - on - year and 0.2% month - on - month [8]. Employment - From January to July, the average national urban surveyed unemployment rate was 5.2%. In July, it was 5.2%, up 0.2 percentage points from the previous month and the same as the same month last year [9].
冠通期货2025年7月宏观经济数据
Guan Tong Qi Huo·2025-08-15 10:53