一份亮眼的工业"成绩单"为国庆假期预热。9月27日，国家统计局发布的最新数据显示，8月规模以上工 业企业利润实现超预期"反转"——8月同比增长20.4%，较7月的下降1.5%大幅改善，不仅创下2023年12 月以来的最高增速，更在国庆前夕为市场注入一针"强心剂"。 "工业企业利润明显改善。"国家统计局工业司首席统计师于卫宁表示，1-8月份，规模以上工业企业利 润由1-7月份同比下降1.7%转为增长0.9%，扭转了自今年5月份以来企业累计利润持续下降态势。 超预期反转8月这一数据释放哪些信号 这是宏观政策发力显效、全国统一大市场纵深推进的结果，各类市场主体盈利的"普惠性"显著增强。 --------------- 这一变化释放出明显的积极信号。从微观层面来看，企业盈利能力增强直接提振发展信心、为扩大生产 提供支撑，8月份，企业生产经营活动预期指数为53.7%，上升1.1个百分点；从宏观层面，更有望推 动"企业盈利-扩大生产-稳定就业-居民增收-消费扩容-经济复苏"的良性闭环形成，成为经济持续回暖的 重要动力源。 同期数据亦印证经济景气水平的回升：8月份，制造业采购经理指数(PMI)、非制造业商务活动指数和综 合 ...

Group 1: Profit Trends - In the first five months of 2025, the profit of large-scale industrial enterprises decreased by 1.1% year-on-year[1] - In May 2025, the profit of large-scale industrial enterprises fell by 9.1% year-on-year[1] - The operating revenue of large-scale industrial enterprises increased by 2.7% year-on-year, a decline of 0.5 percentage points compared to the previous four months[1] Group 2: Contributing Factors - The decline in profit is attributed to insufficient demand, price pressures, and a high base from the previous year[3] - The profit margin for large-scale industrial enterprises was 4.97%, down 4.2% year-on-year, with a decline of 1.6 percentage points compared to the previous four months[1] - The industrial added value grew by 6.3% year-on-year, a decrease of 0.1 percentage points from January to April 2025[1] Group 3: Sector Performance - Among 41 industrial categories, over half achieved positive profit growth in the first five months[1] - Sectors such as mining, aerospace, and food processing showed significant profit growth[1] - The equipment manufacturing sector, particularly in technology-intensive areas, continued to see double-digit profit growth[1] Group 4: Future Outlook and Risks - The "export rush effect" in June is expected to gradually manifest, potentially leading to marginal improvements in profit growth[3] - Risks include the possibility that the export rush effect may not meet expectations and uncertainties in the external environment[4]

Economic Overview - In the first quarter of 2025, Shandong Province's GDP reached 23,466 billion yuan, showing a year-on-year growth of 6.0% at constant prices, outperforming both national expectations and previous forecasts [1] - The overall economic performance indicates a stable and positive trend, reflecting robust potential for high-quality development [3] Agricultural Sector - The total output value of agriculture, forestry, animal husbandry, and fishery reached 1,436.4 billion yuan, with a year-on-year increase of 4.2% at comparable prices [1] - Vegetable and fruit production remained stable, with yields increasing by 3.3% and 3.4% respectively; livestock production saw an 8.2% increase in meat output and a 15.5% rise in milk production [1] Industrial Sector - The added value of industrial enterprises above designated size grew by 8.2% year-on-year, with March alone seeing an increase of 8.3% [1] - By economic type, state-controlled enterprises grew by 3.9%, while private enterprises saw an increase of 7.9% [1] - The manufacturing sector experienced a significant growth of 9.6%, with equipment manufacturing rising by 13.9%, outperforming the overall industrial growth by 5.7 percentage points [1] Consumer Market - The total retail sales of consumer goods reached 10,172.8 billion yuan, marking a year-on-year growth of 5.6%, which is an increase of 0.6 percentage points compared to the previous year [2] - Online retail sales of physical goods amounted to 1,487.1 billion yuan, reflecting a growth of 6.1% [2] Investment Trends - Fixed asset investment grew by 3.4% year-on-year, with manufacturing investment surging by 17.5%, while real estate development investment declined by 11.2% [2] - Investment in the primary industry increased by 18.4%, while the tertiary industry saw a decrease of 7.3% [2] Foreign Trade - The total import and export value reached 8,203.4 billion yuan, with exports growing by 4.8% and imports by 7.5% [2] - The structure of trade improved, with general trade growing by 4.6%, accounting for 65.6% of total trade [2] Future Outlook - The government aims to maintain industrial stability, support foreign trade, enhance service quality, and focus on key project construction and high-quality investment attraction [3]