Production and Investment - In August, industrial added value grew by 5.2% year-on-year, while the service production index increased by 5.6%[7] - Fixed asset investment (FAI) for January to August saw a year-on-year increase of only 0.5%, with August's single-month FAI growth estimated to have dropped to -6.3%[7] - Manufacturing investment in August decreased by 1.3% year-on-year, with significant declines in equipment manufacturing investment[7] Consumption Trends - Retail sales of consumer goods in August rose by 3.4% year-on-year, marking the weakest performance since December of the previous year[7] - The contribution of national subsidies to consumption growth has weakened, with the subsidy amount for Q3 being 69 billion, lower than the 81 billion in previous quarters[7] - Optional consumption saw a decline, with year-on-year growth dropping to -0.1% in August[7] Economic Outlook - Entering the fourth quarter, economic growth faces increased pressure due to high base effects from last year, particularly in consumption and exports[7] - If demand remains weak and no clear measures are implemented, commodity prices may decline again[7] - The Federal Reserve's shift to a rate-cutting cycle may lead to new stimulus policies, but the timing and implementation remain uncertain[7] Risk Factors - External economic volatility poses a significant risk, particularly due to uncertainties surrounding U.S. trade policies[7] - The timing of domestic demand stimulus policies is uncertain, which may affect the sustainability of growth in the latter half of the year[7]