宏信证券每日信息速递

Economic Overview - The national economy showed steady growth in the first two months of 2024, with industrial added value increasing by 7.0% year-on-year, accelerating by 0.2 percentage points compared to December 2023 [4] - The service sector production index rose by 5.8% year-on-year, with significant growth in accommodation and catering (12.1%) and information transmission, software, and IT services (10.4%) [5] - The total retail sales of consumer goods reached 81,307 billion yuan, growing by 5.5% year-on-year, with online retail sales increasing by 15.3% [6] Investment Trends - Fixed asset investment (excluding rural households) reached 50,847 billion yuan, up 4.2% year-on-year, with infrastructure investment growing by 6.3% and manufacturing investment by 9.4% [7][28] - High-tech industry investment increased by 9.4%, with significant growth in sectors such as solar and wind energy [50][27] - Private investment showed signs of recovery, with a 0.4% year-on-year increase, marking a shift from a decline in the previous year [31] Trade and Export - The total import and export value reached 66,138 billion yuan, growing by 8.7% year-on-year, with exports increasing by 10.3% and imports by 6.7% [20] - The trade surplus stood at 8,909 billion yuan, with general trade imports and exports rising by 10.0% [20] Real Estate Sector - Real estate development investment fell by 9.0% year-on-year, with new housing sales area decreasing by 20.5% and sales value by 29.3% [54][55] - The real estate development climate index was reported at 92.13, indicating a challenging environment for the sector [58] Consumer Price Index - The Consumer Price Index (CPI) remained stable, with a year-on-year increase of 0.7% in February, reversing a decline from the previous month [21][16] - Core CPI, excluding food and energy, rose by 1.2%, indicating a recovery in consumer prices [21][16] Employment Situation - The urban surveyed unemployment rate averaged 5.3% in the first two months, showing stability in the job market [9][48] - Employment conditions are expected to improve as economic activities increase [44]