8月经济数据点评：增长放缓背后的原因是积极的

Economic Growth Analysis - In August, the industrial added value of large-scale enterprises grew by 5.2% year-on-year, down from 5.7% in July[5] - The total retail sales of consumer goods increased by 3.4% year-on-year, a decrease from 3.7% in the previous month[5] - Fixed asset investment accumulated a year-on-year growth of only 0.5%, down from 1.6% in July[5] Investment and Consumption Trends - The decline in investment was more significant than expected, with fixed asset investment down by 1.1 percentage points year-on-year[5] - Manufacturing investment is expected to remain low, which may improve profit margins in the long run[5] - Service sector performance outpaced goods, with the service production index rising by 5.6% year-on-year in August[5] Structural Adjustments and Future Outlook - The slowdown in growth is seen as manageable, with a focus on optimizing resource allocation rather than a decline in investment confidence[5] - The transition from old to new economic drivers is underway, with high-tech industries showing a 4.1 percentage point increase in added value compared to the overall sector[5] - Future consumer spending is expected to shift towards services, supported by government policies aimed at enhancing consumer confidence[5]