经济大省是国家经济发展的顶梁柱。 近日，广东、江苏、浙江、山东、河南、四川六个经济大省陆续交出一季度经济成绩单，经济总量合计 突破14万亿元，占全国经济总量比重超过44%，展现出稳固的压舱石作用。 在复杂多变的国内外环境下，经济大省通过产业升级、创新驱动、扩大内需等组合拳，为全国经济稳增 长注入确定性力量。 宏观经济数据揭示了哪些亮点与发展趋势？ "稳"的基底更坚实。 从GDP增速上看，浙江、山东达到6%，江苏、河南则以5.9%的增速紧随其后，四川和广东分别为5.5% 和4.1%。六个经济大省一季度平均增速高于全国约0.2个百分点。 新兴动能加速释放，产业结构持续优化升级。从一季度数据看，战略性新兴产业、高新技术产业对经济 增长的拉动力显著增强，成为经济大省高质量发展的新引擎。 如，一季度广东先进制造业、高技术制造业增加值分别增长5.9%、5.3%，比规模以上工业增速高2.0 个、1.4个百分点。江苏高新技术产业产值占规上工业总产值比重达51.4%，比去年全年提升0.7个百分 点；规上高技术制造业、专精特新"小巨人"企业增加值同比分别增长12.9%、10.2%。 同样，浙江高技术制造业、装备制造业和战略性新兴 ...

【深圳商报讯】（驻穗记者姚嘉莉）今年一季度，广东省经济延续回升向好态势，外贸、消费等多项数 据彰显广东经济发展的韧性与活力，有力提振市场信心和社会预期。外贸要拓，内需要扩，将成为广东 稳住经济大盘的两大关键要素。 广东是中国外贸重要支柱 暨南大学经济学院教授刘金山指出，广东经济稳中有进的力量主要体现在工业领域。工业机器人、服务 机器人的增长数据充分体现广东工业含"数"量很高，说明广东工业领域正处在数字化转型的关键时期， 并且初见成效。广东数字经济的发展，成功带动广东先进制造业和高技术制造业增加值的快速增长。同 时，它造就广东服务业的含"智"量较高，尤其是信息传输、软件和信息技术服务业的增速，比全部服务 业增速高出3.1个百分点。 广东作为中国第一外贸大省，其外贸体量长期占据全国五分之一左右。据海关总署广东分署统计数据， 今年一季度，广东外贸进出口2.14万亿元，同比增长4.2%。其中，出口1.34万亿元，增长1.4%；进口 7981.5亿元，增长9.3%。面对复杂多变的外部环境，一季度广东外贸克服外部不确定因素增多等困难， 继续保持增长态势，实现良好开局，反映出广东经济基础稳、韧性强、潜力大、活力足的特点。 ...

Economic Overview - In Q1 2025, Anhui Province's GDP reached 12,265 billion yuan, showing a year-on-year growth of 6.2%, which is an improvement of 0.4 percentage points compared to the previous year's growth of 5.8%, marking the best performance in three years [1] - The economic recovery is supported by growth across agriculture, industry, and services, with a notable increase in the consumption market and a 5.7 percentage point acceleration in imports and exports due to "grabbing exports" effects [1] Industrial Performance - The industrial output in Anhui showed a steady increase, with the added value of large-scale industries growing by 9.2% year-on-year, which is a 0.2 percentage point increase from the previous year [2] - The equipment manufacturing sector experienced significant growth, with an 18.4% increase in added value, contributing 76.5% to the overall industrial growth, particularly driven by a 31.7% increase in automobile manufacturing and a 21.1% increase in computer and communication equipment manufacturing [2] - High-tech manufacturing added value grew by 20.1%, outperforming the overall industrial growth by 10.9 percentage points [2] Service Sector Insights - The service sector in Anhui also showed positive growth, with a year-on-year increase of 5.9% in added value [2] - High-tech service industries performed well, with a 10.5% increase in revenue for large-scale service enterprises, and software and information technology services growing by 38.8% [2] Consumer Spending Trends - In Q1 2025, the per capita consumption expenditure in Anhui was 7,224 yuan, ranking 11th nationally and showing a year-on-year increase of 4.9% [3] - Urban residents had a per capita consumption expenditure of 8,444 yuan (up 4.4%), while rural residents spent 5,866 yuan (up 5.0%) [3] - The consumption structure showed growth in seven out of eight categories, with significant increases in transportation, communication, and education-related expenditures [3] - Service consumption expenditure per capita reached 2,884 yuan, growing by 6.5%, which is 1.6 percentage points faster than overall consumption growth, indicating a rising trend in service-oriented spending [3]

近期浙江的一系列科技创新成果引发国内外广泛关注。从数据情况看，浙江新质生产力呈现良好的发展 势头。例如，从新质产品看，一季度，民用无人机、工业机器人、服务机器人、集成电路等新质产品产 量爆发式增长，分别增长58.7%、54.1%、33.9%和26.2%。从创新投入看，1—2月，规模以上工业企业 研发费用同比增长8.3%，增速比营业收入高4.8个百分点。 开年以来，浙江陆续出台系列扩内需促消费政策，推动更多真金白银政策优惠直达经营主体和消费者。 褚英国表示，品质类消费增势愈发强劲。一季度粮油食品类、饮料类、烟酒类商品零售额分别增长 7.2%、9.1%和17.9%，品质类消费持续增长。体育娱乐用品、金银珠宝、可穿戴智能设备等升级类商品 零售分别增长19.9%、27.6%和72.1%，均明显高于限额以上商品零售额增速。 民营经济是浙江的"金名片"。数据显示，一季度，民营企业合计进出口1.05万亿元，占全省进出口比重 提升0.8个百分点至81.1%；进出口同比增长8.4%，高于全省进出口增速1.1个百分点，比全国平均水平 高2.6个百分点。 浙江省新闻发布会4月21日举行，介绍2025年一季度浙江经济运行情况。据统计 ...

其中，地区生产总值增速、固定资产投资增速、社会消费品零售总额增速、规上服务业营收增速、地方 一般公共预算收入增速高于全国平均水平，在经济大省中获"单项冠军"。 湖北省统计局指出，总的来看，一季度全省经济稳中向好、量质并进。但也要看到，当前外部环境更趋 复杂严峻，经济持续回升向好基础仍需巩固。下阶段，要聚焦"加快建成中部地区崛起的重要战略支 点"，全力以赴稳增长、防风险、保民生，持续推动全省经济社会高质量发展。 长江商报消息 ●长江商报记者 李璟 今年以来，湖北经济平稳运行、开局良好，经济结构持续优化，新质生产力加快培育，支点建设迈出坚 实步伐。 4月19日，湖北省政府新闻办召开新闻发布会，介绍2025年一季度全省经济运行情况。根据地区生产总 值统一核算结果，一季度，湖北实现生产总值13543.49亿元，按不变价格计算，同比增长6.3%。分产业 看，第一产业增加值828.69亿元，增长3.2%；第二产业增加值5344.85亿元，增长6.4%；第三产业增加 值7369.95亿元，增长6.5%。 整体经济稳健有力 一季度，湖北上下坚持稳中求进工作总基调，统筹推进稳增长、强科技、壮产业、防风险、惠民生各项 工作。 农 ...

Group 1 - The report highlights strong economic growth in the first quarter, with GDP growth reaching 5.4%, surpassing the previous consensus expectation of 5.2% [2] - Investment in manufacturing and infrastructure remains steady, while real estate investment showed signs of slowing down in March, although property sales continue to recover [2][3] - Consumer spending has improved significantly, particularly in March, with online retail showing high growth, indicating the effectiveness of policies promoting consumption [2] Group 2 - The report indicates that the current domestic inventory cycle is in a weak replenishment phase, with leading indicators suggesting steady recovery in consumer spending and business expectations [2] - The uncertainty surrounding tariffs is expected to suppress commercial activities and asset price expectations, leading to increased volatility in risk assets [2] - The report suggests that Chinese assets have relative advantages, with A-shares entering an observation period, and emphasizes the importance of domestic policy strength and timing for sustaining recovery momentum [2] Group 3 - The report notes that the weak dollar trend is likely to continue, with rising risks of a slowdown in the US economy, which may lead to increased demand for gold as a safe-haven asset [2] - The report emphasizes that low valuations and stable earnings will dominate market styles before the implementation of growth-stabilizing policies, with a focus on defensive assets in the short term [2] - The report anticipates that after the uncertainty surrounding tariffs is resolved, profit factors may regain dominance in the market, shifting focus back to growth-oriented sectors [2]

4月16日，国家统计局发布的数据显示，经初步核算，一季度国内生产总值(GDP)318758亿元，按不变 价格计算，同比增长5.4%。国家统计局副局长盛来运在国新办新闻发布会上表示，这一增速在全球主 要经济体中名列前茅，经济开局良好。相关指标显示，一季度经济运行不仅实现了量的增长，也实现了 质的提升。受访专家认为，内需和创新协同驱动，经济呈现较强复苏态势。 从主要经济指标看，一季度生产需求指标加快回升。全部工业增加值同比增长6.3%，比去年全年回升 0.6个百分点；服务业增加值增长5.3%，回升0.3个百分点；固定资产投资增长4.2%，比去年全年回升1 个百分点；社会消费品零售总额增长4.6%，回升1.1个百分点。中信证券首席经济学家明明对证券时报 记者表示，一季度GDP增速超预期，且在高基数背景下，比上年四季度增长1.2%，这意味着，在一系 列政策前置发力下，内需和创新协同驱动，经济呈现较强复苏态势。 质的方面，一季度，装备制造业增加值同比增长10.9%，比上年全年加快3.2个百分点；高技术制造业增 加值增长9.7%，加快0.8个百分点。新能源汽车、3D打印设备、工业机器人产品产量同比分别增长 45.4%、4 ...

Group 1: PMI Data Insights - The manufacturing PMI for March 2025 is reported at 50.5%, an increase of 0.3 percentage points from the previous month[2] - The new orders index rose to 51.8%, up 0.7 percentage points, indicating improved demand[12] - The service sector PMI increased to 50.3%, reflecting a 0.3 percentage point rise, while the construction PMI reached 53.4%, the highest since June of the previous year[9] Group 2: Economic Trends and Challenges - Despite the positive PMI trends, the overall economic recovery remains weak, with manufacturing PMI still below seasonal averages[2] - The manufacturing sector is experiencing passive destocking, with finished goods inventory index dropping to 48.0%, indicating a supply-demand gap[4] - Price indices for both factory and raw material purchases fell by 0.6 and 1.0 percentage points, respectively, suggesting ongoing price pressures on profitability[4] Group 3: Sector Performance - High-tech manufacturing and equipment manufacturing sectors are showing significant recovery, with PMIs of 52.3% and 52.0%, respectively[4] - Small and medium-sized enterprises (SMEs) saw a notable rebound in PMI, with small enterprises reaching 49.6%, the highest level since June of the previous year[4] - The construction sector is facing challenges due to funding pressures and low new order indices, which fell to 43.5%[9]

Core Viewpoint - The manufacturing Purchasing Managers' Index (PMI) in March rose to 50.5%, indicating a slight improvement in manufacturing activity compared to February, driven by seasonal factors, policy support, and technological innovations [1][4]. Manufacturing PMI Analysis - The production index, new orders index, new export orders index, and raw materials inventory index all increased, with rises between 0.1 to 0.7 percentage points [1]. - The new orders index reached 51.8%, up 0.7 percentage points from February, indicating sustained demand [4]. - The production index was at 52.6%, reflecting a continuous upward trend for two months [4]. Sector Performance - High-tech manufacturing sectors, such as railway, aerospace, and electronics, showed strong performance with production and new orders indices above 55.0% [6]. - Conversely, industries like wood processing and coal showed indices below the critical point, indicating supply-demand imbalances [6]. - The consumer goods manufacturing PMI rose to 50.0%, driven by policies promoting consumption [6]. Price Indices and Market Dynamics - The main raw materials purchase price index fell to 49.8%, while the factory price index dropped to 47.9%, indicating a supply surplus [7][8]. - The decline in prices is attributed to weak demand and increased production, particularly in the basic raw materials sector [7][8]. Future Outlook - The manufacturing sector is expected to continue its stable recovery in the second quarter, supported by government policies aimed at expanding domestic demand and promoting new urbanization [9]. - The manufacturing production and business activity expectation index was at 53.8%, indicating optimism among enterprises [9]. - However, potential challenges include the impact of increased tariffs on exports and the need for further stabilization in the real estate market [9].

Core Viewpoint - The economy is continuing to improve, with March manufacturing PMI at 50.5, service PMI at 50.3, and construction PMI at 53.4, all showing month-on-month increases [1][4]. Group 1: Economic Indicators - The manufacturing PMI increased by 0.3 points from the previous month, while service PMI also rose by 0.3 points, and construction PMI saw a 0.7 point increase [1][4]. - The export order index has shown resilience, rising slightly, indicating external demand remains stable despite tariff pressures [1][5]. - Small enterprise PMI improved significantly by 3.3 points in March, reflecting better financial conditions [1][5]. - High-tech manufacturing PMI was reported at 52.3, indicating relative strength compared to previous periods [5]. Group 2: Recovery Characteristics - Despite some positive indicators, the overall data reflects a weak recovery, with manufacturing PMI lower than the previous year's value of 50.8 and below the historical average of 0.7 points for March [2][5]. - Service sector performance is also lagging, with March values lower than seasonal expectations, showing a cumulative decline compared to similar periods in previous years [5][6]. - The construction sector's performance is being hindered by insufficient support from infrastructure investments, as indicated by the lower demand from this sector [2][7]. Group 3: Price Indices and Employment - Both price indices showed a month-on-month decline, with expectations for March PPI indicating slight negative growth [10][12]. - Employment indicators in manufacturing, services, and construction sectors showed a decline in March, although the overall trend since September has been upward [12][13]. - The BCI enterprise hiring index also decreased, suggesting a cautious approach to hiring amid structural changes in labor demand [12][13]. Group 4: Future Outlook - The report suggests that the economic trajectory in 2025 may resemble that of 2016, with gradual improvements expected in consumer spending, local investment, and price indices [12][13]. - The overall economic growth is anticipated to experience fluctuations throughout the year, with a focus on validating the effectiveness of policy measures aimed at stabilizing growth [14].