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重磅数据出炉!国家统计局权威解读来了
券商中国·2025-08-15 12:34

Core Viewpoint - The July economic indicators released by the National Bureau of Statistics show that despite short-term shocks from extreme weather and a complex international environment, the economy is exhibiting stable growth in production supply, consumption, and investment, with new driving forces continuously expanding [1][3]. Economic Operation Characteristics - The economic operation in July has five main characteristics: 1. Stable growth in production supply 2. Continued growth in consumption and investment 3. Resilience in foreign trade 4. Overall stability in employment and prices 5. Steady growth of new driving forces [3][4]. - In July, the industrial added value above designated size increased by 5.7% year-on-year, maintaining rapid growth. The urban survey unemployment rate rose to 5.2%, a seasonal increase of 0.2 percentage points from the previous month, but remained stable compared to the same period last year [3]. Consumption and Investment Trends - Service consumption has driven overall consumption to maintain a steady upward trend. In July, the total retail sales of consumer goods increased by 3.7% year-on-year, with retail sales of goods growing by 4%. From January to July, service retail sales increased by 5.2% [5]. - Investment growth has slowed due to extreme weather and project construction delays, but the scale of investment continues to expand. From January to July, investment in equipment and tools increased by 15.2% [5]. New Quality Productivity and High-Quality Development - High-tech manufacturing has shown positive development, with the added value of high-tech manufacturing above designated size increasing by 9.3% year-on-year, outpacing the growth rate of overall industrial output. The production indices for information transmission software and IT services, as well as leasing and business services, grew by 11.9% and 8%, respectively [6][7]. - The online consumption sector has also seen rapid growth, with the online retail sales of physical goods increasing by 6.3% year-on-year from January to July, accelerating by 0.3 percentage points compared to the first half of the year [7].