Housing prices continue to adjust, national economic data in May: production and consumption continue to pick up

Release time:Jun 17, 2024 14:19 PM

The National Bureau of Statistics held a press conference today to release economic data for May. Industry, services, total retail sales of consumer goods, fixed asset investment, and imports and exports of goods all showed significant growth, showing that the national economy continued to recover, production grew steadily, demand continued to recover, the balance of international payments was balanced, and the overall operation was stable. Data related to the real estate market were released simultaneously, and the sales prices of commercial housing in various cities in May fell month-on-month, and the year-on-year decline slightly widened.

In industrial production, equipment manufacturing and high-tech manufacturing industries have shown good growth momentum. In May, the added value of industrial enterprises above designated size nationwide increased by 5.6% year-on-year and 0.30% month-on-month. The added value of equipment manufacturing increased by 7.5%, and the added value of high-tech manufacturing increased by 10.0%, which were 1.9 and 4.4 percentage points faster than the growth rates of all industries above designated size, respectively. From the product perspective, the output of 3D printing equipment, new energy vehicles, and integrated circuit products increased by 36.3%, 33.6%, and 17.3% year-on-year, respectively. From January to April, the total profit of industrial enterprises above designated size nationwide reached 2,094.7 billion yuan, a year-on-year increase of 4.3%.

The service industry continued to recover, especially the modern service industry. In May, the national service industry production index increased by 4.8% year-on-year, 1.3 percentage points faster than the previous month. In terms of industries, the production index of information transmission, software and information technology services, leasing and business services, transportation, warehousing and postal services, and wholesale and retail industries increased by 12.9%, 8.8%, 5.6% and 5.0% year-on-year, respectively, 2.1, 2.7, 1.3 and 1.5 percentage points faster than the previous month. From January to April, the operating income of service enterprises above designated size increased by 8.2% year-on-year. Among them, the business activity index of postal, telecommunications, radio, television and satellite transmission services, Internet software and information technology services, culture, sports and entertainment industries is in a high prosperity range above 55.0%.

Market sales also picked up. In May, the total retail sales of consumer goods reached 3921.1 billion yuan, up 3.7% year-on-year, 1.4 percentage points faster than the previous month, and up 0.51% month-on-month. By consumption type, retail sales reached 3493.7 billion yuan, up 3.6%; catering revenue reached 427.4 billion yuan, up 5.0%. Sales of some upgraded products grew rapidly, with the retail sales of sports and entertainment products, cosmetics, communication equipment, household appliances and audio-visual equipment of units above the designated size increasing by 20.2%, 18.7%, 16.6% and 12.9% respectively.

Imports and exports of goods showed rapid growth. In May, the total import and export of goods was 3707.7 billion yuan, an increase of 8.6% year-on-year. Among them, exports were 2147.1 billion yuan, an increase of 11.2%; imports were 1560.7 billion yuan, an increase of 5.2%. After deducting imports and exports, the trade surplus was 586.4 billion yuan. From January to May, the total import and export of goods was 17504.2 billion yuan, an increase of 6.3%. Among them, exports were 9950.2 billion yuan, an increase of 6.1%; imports were 7554.1 billion yuan, an increase of 6.4%. In terms of categories, from January to May, the export of mechanical and electrical products increased by 7.9%, accounting for 59.0% of the total exports.

In terms of fixed asset investment, investment in high-tech industries grew rapidly. From January to May, the national fixed asset investment was 18,800.6 billion yuan, a year-on-year increase of 4.0%; excluding real estate development investment, the national fixed asset investment increased by 8.6%. In terms of industries, investment in the primary industry increased by 3.0% year-on-year, investment in the secondary industry increased by 12.5%, and investment in the tertiary industry remained the same year-on-year. Investment in high-tech industries increased by 11.5% year-on-year, of which investment in high-tech manufacturing and high-tech services increased by 10.4% and 14.3% respectively. In the high-tech manufacturing industry, investment in aviation, spacecraft and equipment manufacturing, and electronic and communication equipment manufacturing increased by 53.1% and 10.4% respectively; in the high-tech service industry, investment in e-commerce services and information services increased by 32.5% and 19.1% respectively.

The National Bureau of Statistics also released relevant data on the national real estate market. From January to May, the national real estate development investment was 4063.2 billion yuan, a year-on-year decrease of 10.1%; of which, residential investment was 3082.4 billion yuan, a decrease of 10.6%. The sales area of new commercial housing in the country was 366.42 million square meters, a year-on-year decrease of 20.3%, of which residential sales area decreased by 23.6%. The sales of new commercial housing was 3566.5 billion yuan, a decrease of 27.9%, of which residential sales decreased by 30.5%. In May, the real estate development prosperity index was 92.01.

From the perspective of housing prices, the sales prices of newly built commercial housing in 70 large and medium-sized cities have mostly declined. In terms of new houses, the sales prices of newly built commercial housing in first-tier cities fell by 0.7% month-on-month, a decrease of 0.1 percentage point from the previous month; it fell by 3.2% year-on-year, a decrease of 0.7 percentage point from the previous month. The sales prices of newly built commercial housing in second- and third-tier cities fell by 0.7% and 0.8% month-on-month respectively. Among the large cities, Beijing, Guangzhou and Shenzhen fell by 1.1%, 1.4% and 0.8% month-on-month respectively. Shanghai rose by 0.6% month-on-month and 4.5% year-on-year.

In terms of second-hand housing, the sales price of second-hand housing in first-tier cities fell by 1.2% month-on-month, a decrease of 0.1 percentage point from the previous month; it fell by 9.3% year-on-year, a decrease of 0.8 percentage point from the previous month. The sales prices of second-hand housing in second- and third-tier cities fell by 1.0% and 0.9% month-on-month respectively. The four cities of Beijing, Shanghai, Guangzhou and Shenzhen fell by 1.2%, 1.3%, 1.6% and 1.0% month-on-month respectively.

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The amount of foreign consumption is even more impressive. Shanghai's food and beverage consumption is twice that of the same period last year. This Dragon Boat Festival holiday | year-on-year | the same period last year

The Dragon Boat Festival is filled with a fragrant brown aroma, and the Shanghai market is thriving with both purchases and sales. According to the monitoring of the consumer market big data laboratory, during the holiday period, the offline consumption payment amount in Shanghai is about 18 billion yuan. Among them, the growth of catering and accommodation formats is relatively significant, with a payment amount of 2.78 billion yuan in the catering industry, an increase of 104.4% compared to the same period of festivals in 2022; The payment amount for the accommodation industry was 1.32 billion yuan, an increase of 31.1% compared to the same period of the 2022 holiday. The first eight hundred companions held the "Summer Tide Play Life Festival" activity. The total offline passenger flow of 35 key commercial districts monitored reached 13.72 million, an increase of 1.5 times compared to the same period of the 2022 holiday season, and basically remained at the same level as the 2019 holiday season. According to the monitoring of UnionPay's business big data, the amount of foreign consumption incurred was 7.97 billion yuan,

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What high-quality public resources will be implemented?, The collection of public building and landscape project proposals for the five new cities in Shanghai this year concludes with Architecture | New City | Public Buildings

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A batch of children's toothbrushes recalled by Le Kou Le Kou, infants and young children may accidentally swallow and suffocate, meeting the standards | Product | Toothbrushes

According to mandatory standards in our country, the head of children's toothbrushes cannot be disassembled. If products that do not meet the standard requirements are disassembled and produce small parts, infants and young children may have the risk of swallowing and suffocating during use. The Shanghai Municipal Administration for Market Regulation announced today that Shanghai Lekou Lekou Trading Co., Ltd. has recalled a batch of children's toothbrushes, whose brush heads do not meet the requirements of the "General Technical Requirements for Safety of Toothbrushes and Oral Appliances" for children's toothbrushes to be non removable. According to the market supervision department, the recall period for this batch of products is from today until September 4, 2023, involving 600 "LocknLock" children's U-shaped toothbrushes. The buckle side stated that consumers are requested to immediately stop using the product and arrange for returns. The recall plan has been posted on its official website. Screenshot of the official website of Le Kou Le Kou

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