The hottest interpretation of economic data in Aug

2022-08-21
  • Detail

Interpretation of economic data in August: industrial production slowed down slightly, infrastructure development potential is great

interpretation of economic data in August: industrial production slowed down slightly, infrastructure development potential is great

China Construction machinery information

on September 16, the National Bureau of Statistics announced the operation of the national economy in August. In August, the main indicators rose and fell, industrial production slowed down slightly, the growth of service industry accelerated, while market sales remained stable, and investment slowed down slightly

Fu Linghui, spokesman of the National Bureau of statistics, said when evaluating the economic indicators of the month that, on the whole, there will be certain fluctuations in the month due to the influence of various factors. From the overall situation of the month, the economic operation will maintain an overall stable and steady development trend

he mentioned that since this year, the global economic growth has slowed down, trade protectionism has risen, the international environment is unstable and uncertain factors are increasing, and there is indeed downward pressure at home. The next step is to further strengthen countercyclical regulation and the work of "six stabilities" in accordance with the deployment of the Party Central Committee and the State Council, so as to promote the sustained and healthy development of the economy

on September 16, the National Bureau of Statistics announced the operation of the national economy in August. In August, the main indicators rose and fell, industrial production slowed down slightly, the growth of service industry accelerated, while market sales remained stable, and investment slowed down slightly

Fu Linghui, spokesman of the National Bureau of statistics, said when evaluating the economic indicators of the month that, on the whole, there will be certain fluctuations in the month due to the influence of various factors. From the overall situation of the month, the economic operation will maintain an overall stable and steady development trend

he mentioned that since this year, the global economic growth has slowed down, trade protectionism has risen, the international environment is unstable and uncertain factors are increasing, and there is indeed downward pressure at home. The next step is to further strengthen countercyclical regulation and the work of "six stabilities" in accordance with the deployment of the Party Central Committee and the State Council, so as to promote the sustained and healthy development of the economy

the industrial growth rate fell, and special factors affected some industrial production

in August, the added value of industries above designated size increased by 4.4% year-on-year, and the growth rate fell by 0.4 percentage points from the previous month. In terms of three categories, the added value of the mining industry increased by 3.7%, the manufacturing industry increased by 4.3%, and the production and supply industry of electricity, heat, gas and water increased by 5.9%. The growth rate was lower than that of the previous month. On the other hand, industrial enterprises above Designated Size achieved an export delivery value of 1046.4 billion yuan in August, a year-on-year decrease of 4.3%

for the industrial data in August, zhujianfang, chief economist of CITIC Securities, said that the industrial added value hovered at a low level, and the pressure on the manufacturing industry remained unchanged. Domestic and foreign demand is a drag, and all industries are slowing down

the growth of industrial production slowed down slightly in August. In addition to the downward pressure on the economy itself, special factors in August affected some industrial production. Fulinghui, spokesman of the National Bureau of statistics, believes that the working days in August this year are 22 days, compared with 23 days in the same period last year, which will have a certain impact on the production speed of some industrial enterprises

some climatic factors in the month also have a certain impact on industrial production in some areas. In August, there were three typhoons landing across the country. In the face of macroeconomic downturn, Jiangsu Jinfa technology had 1.2 more typhoons than in the past year. Among them, typhoon "lichima" was the fifth strongest typhoon since the founding of new China, causing some adverse effects on industrial production in eastern provinces

economist Deng Haiqing believes that the main reason for the decline of economic data in August may be the lack of enterprise confidence caused by the uncertainty between China and the United States, plus the influence of working days and typhoons, as well as the possibility of data outliers. "Since 2019, the economic data has shown obvious ultra-high volatility. We are still very skeptical about whether the monthly economic data means that the economy has broken down."

from the cumulative data, the added value of industries above designated size increased by 5.6% and the high-tech manufacturing industry increased by 8.4% in January. Fu Linghui believes that the trend of stable growth is still continuing. In the next stage, there are many stable conditions for industrial production to remain stable

the trend of industrial upgrading and development continues, and the effectiveness of a series of industrial development policies continues to show. This year's large-scale tax cuts and fee reductions will provide good support for enterprises. From the perspective of future development, the countercyclical regulation is increasing, the formation of the market-oriented quotation interest rate mechanism for loans has been promoted recently, and the RRR has been reduced, which provide good conditions for the development of industrial enterprises

the growth of infrastructure investment is accelerating, and there is still great potential in the future.

"there is still great potential for China's infrastructure development." Fu Linghui mentioned that according to the data, the current per capita infrastructure stock level is equivalent to 20% - 30% of that of developed countries. There is still a large amount of infrastructure investment demand in the field of people's livelihood and regional development

according to the data released by the National Bureau of statistics on the same day, the national fixed asset investment (excluding farmers) was 40062.8 billion yuan in January, with a year-on-year increase of 5.5%, and the growth rate was 0.2 percentage points lower than that in January

the industrial growth rate fell, and special factors affected some industrial production

in August, the added value of industries above designated size increased by 4.4% year-on-year, and the growth rate fell by 0.4 percentage points from the previous month. In terms of three categories, the added value of the mining industry increased by 3.7%, the manufacturing industry increased by 4.3%, and the production and supply industry of electricity, heat, gas and water increased by 5.9%. The growth rate was lower than that of the previous month. On the other hand, industrial enterprises above Designated Size achieved an export delivery value of 1046.4 billion yuan in August, a year-on-year decrease of 4.3%

for the industrial data in August, zhujianfang, chief economist of CITIC Securities, said that the industrial added value hovered at a low level, and the pressure on the manufacturing industry remained unchanged. Domestic and foreign demand is a drag, and all industries are slowing down

the above are the operating procedures and performance characteristics of the electronic universal testing machine. The growth of industrial production slowed down slightly in August. In addition to the downward pressure on the economy itself, special factors in August affected some industrial production. Fulinghui, spokesman of the National Bureau of statistics, believes that the working days in August this year are 22 days, compared with 23 days in the same period last year, which will have a certain impact on the production speed of some industrial enterprises

some climatic factors in the month also have a certain impact on industrial production in some areas. In August, there were three typhoons landing across the country, 1.2 more than all the years in history. Among them, typhoon "lichima" was the fifth strongest typhoon since the founding of new China, causing some adverse effects on the industrial production of the eastern provinces

economist denghaiqing believes that the main reason for the decline of economic data in August may be that the increasing international influence of China's plastic machinery industry is the lack of enterprise confidence caused by the uncertainty between China and the United States. At the same time, the influence of workdays and typhoons is superimposed, and the possibility of data outliers is not ruled out. "Since 2019, the economic data has shown obvious ultra-high volatility. We are still very skeptical about whether the monthly economic data means that the economy has broken down."

from the cumulative data, the added value of industries above designated size increased by 5.6% and the high-tech manufacturing industry increased by 8.4% in January. Fu Linghui believes that the trend of stable growth is still continuing. In the next stage, there are many stable conditions for industrial production to remain stable

the trend of industrial upgrading and development continues, and the effectiveness of a series of industrial development policies continues to show. This year's large-scale tax cuts and fee reductions will provide good support for enterprises. From the perspective of future development, the countercyclical regulation is increasing, the formation of the market-oriented quotation interest rate mechanism for loans has been promoted recently, and the RRR has been reduced, which provide good conditions for the development of industrial enterprises

the growth of infrastructure investment is accelerating, and there is still great potential in the future.

"there is still great potential for China's infrastructure development." Fu Linghui mentioned that according to the data, the current per capita infrastructure stock level is equivalent to 20% - 30% of that of developed countries. There is still a large amount of infrastructure investment demand in the field of people's livelihood and regional development

according to the data released by the National Bureau of statistics on the same day, the national fixed asset investment (excluding farmers) was 40062.8 billion yuan in January, with a year-on-year increase of 5.5%, and the growth rate was 0.2 percentage points lower than that in January

in terms of areas, infrastructure investment increased by 4.2%, 0.4 percentage points higher than that in January; Private investment was 23696.3 billion yuan, an increase of 4.9%, down 0.5 percentage points from the month; The investment in real estate development was 8458.9 billion yuan, a year-on-year increase of 10.5%, and the growth rate was 0.1 percentage points lower than that in January

According to Fu Linghui's analysis, from the previous situation, the growth of infrastructure investment is not high, mainly due to the large-scale tax reduction and fee reduction measures this year, the financial revenue of local governments has been affected to a certain extent, affecting the ability of infrastructure investment

in addition to the implementation of tax reduction and fee reduction since this year, which has continued to restrict the revenue growth of local governments, Zhu Jianfang said that the land revenue to avoid the instrument being in a load state for a long time has also been reduced recently due to the tightening of supervision, so there are still major constraints on the capital source of infrastructure construction. In the absence of further financial support, the subsequent financing sources related to infrastructure construction will be relatively limited

however, Fu Linghui said that there are many favorable conditions for the rapid growth of infrastructure investment, and the state will further increase its support for infrastructure investment. The central government will increase its support, further increase the issuance of special bonds, and issue some new special bonds in advance this year next year, which is conducive to supporting the growth of infrastructure investment

consumer demand is expanding and the consumption structure is upgrading.

Fu Linghui mentioned that China's economy has changed greatly compared with the past, especially domestic demand has become the main driving force of economic growth. In the first half of the year, the contribution of domestic demand to economic growth was close to 80%, of which the contribution of final consumption expenditure to economic growth reached 60.1%. China's consumption growth was in the stage of rapid demand upgrading and expansion. From the main data, consumption demand was expanding and the consumption structure was upgrading

in August, the total retail sales of social consumer goods was 3389.6 billion yuan, a year-on-year increase of 7.5%, and the growth rate was 0.1 percentage points lower than that of the previous month. Among them, the retail sales of consumer goods excluding automobiles increased by 9.3%, 0.5 percentage points higher than the previous month

the growth rate of consumption upgrading commodities accelerated, and the cultural office supplies and cosmetics commodities of units above the designated size increased by 19.8% and 12.8% respectively, 5.3 and 3.4 percentage points faster than that of the previous month

at the same time, service consumption has maintained a rapid growth. Fu Linghui said that according to internal calculations, the current growth of service consumption is still in the double digits. "The stable supporting and pulling effect of the expansion of consumption on economic growth is improving."

on the other hand, automobile consumption is still weak after the switch of emission standards and price reduction and promotion factors in June. The growth rate of automobile consumption in August was -8.1%, down 5.5 percentage points from July

Zhu Jianfang said that due to the impact of early auto consumption promotion on subsequent demand overdraft, the growth rate of auto consumption fell further. However, he also mentioned that car consumption may pick up in September compared with August. The negative impact of demand overdraft in early September has gradually weakened, and multiple positive factors such as the traditional peak season of the auto market, more local auto shows and Mid Autumn Festival holidays may drive car consumption to pick up slightly

there is downward pressure on the economy, so we should strengthen the counter cyclical regulation.

Fu Linghui said in his evaluation of the economic operation in August that the main indicators have increased and decreased, industrial production has slowed down slightly, the growth of the service industry has accelerated, and market sales have remained stable

Copyright © 2011 JIN SHI