11月经济数据出炉！权威解读来了

Economic Overview - In November, the economy showed stable production growth, expanded market sales, resilient foreign trade, stable employment and prices, and strong social welfare, indicating a steady development trend [1] - The implementation of policies such as "two highs" and "two new" has effectively stimulated market demand and industrial production [1] Agricultural Production - The national grain output for 2025 is projected to be 14,298 billion jin, an increase of 167.5 billion jin or 1.2% from the previous year, maintaining stability above 14 trillion jin [2] - The summer grain and early rice have seen stable production and increased yields, contributing to food security and income growth for residents [2] Investment Trends - Fixed asset investment (excluding rural households) decreased by 2.6% year-on-year in the first 11 months, but investment in key sectors continued to grow, supported by policies aimed at expanding domestic demand and upgrading industries [7] - Investment in emerging sectors is performing well, with general equipment manufacturing investment up by 8.9% year-on-year [7] - Traditional industries are also expanding investment, with significant growth in the petroleum, coal, and chemical fiber manufacturing sectors, increasing by 23.6% and 12.1% respectively [7] Consumer Market - The total retail sales of consumer goods in November grew by 1.3% year-on-year, marking a slowdown for six consecutive months [4] - Online retail sales increased by 9.1% year-on-year in the first 11 months, indicating a continuous expansion of digital consumption [2] - Service retail sales grew by 5.4% year-on-year, with significant growth in cultural and communication equipment retail [5] Employment and Unemployment - The urban surveyed unemployment rate in November remained stable at 5.1%, indicating a steady employment situation [6] Infrastructure Investment - Investment in civil infrastructure has increased, with power and heat production and supply investment growing by 12.5% year-on-year [8] - The policy-driven effects are evident, with equipment purchase investment rising by 12.2%, contributing to overall investment growth [8]