5月经济数据发布！国家统计局权威解读

Core Viewpoint - The article highlights that China's economy is showing overall stability with improving indicators, driven by new consumption momentum and a strong service sector growth [1][2]. Economic Performance - In May, the industrial added value above designated size grew by 5.8% year-on-year, while the service production index increased by 6.2%, accelerating by 0.2 percentage points from the previous month [4]. - The total retail sales of consumer goods rose by 6.4% year-on-year in May, an increase of 1.3 percentage points compared to the previous month [4]. - The urban unemployment rate in May was 5%, down by 0.1 percentage points from the previous month, with youth unemployment continuing to decline for three consecutive months [4]. New Consumption Growth Points - The growth in retail sales was supported by several factors, including the "old-for-new" policy, which significantly boosted sales in categories like home appliances and communication devices, contributing 1.9 percentage points to the total retail sales growth [6]. - The "6·18" online shopping promotion, which started on May 13, also accelerated online retail sales, with physical goods online retail sales growing by 6.3% year-on-year from January to May [7]. - Holiday consumption showed positive trends, with domestic tourism increasing by 6.4% during the "May Day" holiday, and restaurant income growing by 5.9% in May [7]. - New consumption momentum is evident in categories like sports and entertainment products, which saw retail sales growth of 28.3% and 21.8% respectively [7]. Industrial New Momentum - The industrial sector is experiencing growth in high-end, intelligent, and green manufacturing, with the added value of high-tech manufacturing increasing by 8.6% year-on-year in May [10]. - Key industries such as automotive and electronics manufacturing saw significant growth, with automotive manufacturing increasing by 11.6% [10]. - The production of new energy vehicles and lithium-ion batteries grew by 31.7% and 52.5% respectively, indicating a shift towards greener production [10].