National Bureau of Statistics: The national economy continues to recover and continue in May | Situation | National Economy

According to the National Bureau of Statistics, the national economy continued to recover in May.

The 1. service industry grew faster, and the contact-type aggregation service industry continued to improve.

In May, the national service industry production index increased by 11.7 year-on-year, down 1.8 percentage points from the previous month. In terms of different industries, the production index of accommodation and catering, leasing and business services, wholesale and retail, information transmission, software and information technology services increased by 39.5, 14.0, 13.2 and 12.9 respectively. From January to May, the national service industry production index increased by 9.1 year-on-year, 0.7 percentage points faster than in January-April. From January to April, the operating income of service enterprises above designated size increased by 6.9 year-on-year. In May, the business activity index of the service industry was 53.8 per cent, and the business activity expectation index was 60.1 per cent, of which the business activity index of industries such as railway transport, water transport, air transport, telecommunications, radio and television and satellite transmission services, Internet software and information technology services was in the high boom range of more than 60 per cent.

2. Industrial Production Grows Steady, Equipment Manufacturing Industry Grows Faster

In May, the added value of industries above designated size in China increased by 3.5% year-on-year, a decrease of 2.1 percentage points from the previous month; A month on month increase of 0.63%. Looking at the three major categories, the added value of the mining industry decreased by 1.2% year-on-year, the manufacturing industry increased by 4.1%, and the production and supply of electricity, heat, gas, and water increased by 4.8%. The added value of the equipment manufacturing industry increased by 8.0% year-on-year, 4.5 percentage points faster than that of large-scale industries. From the perspective of economic types, the added value of state-owned holding enterprises increased by 4.4% year-on-year; Joint stock enterprises increased by 3.5%, while foreign and Hong Kong, Macao, and Taiwan invested enterprises increased by 4.2%; Private enterprises grew by 0.7%. In terms of products, the production of solar cells, new energy vehicles, and service robots increased by 53.1%, 43.6%, and 34.3% year-on-year, respectively. From January to May, the added value of industries above designated size in China increased by 3.6% year-on-year, which is the same as from January to April. In May, the Purchasing Managers Index for the manufacturing industry was 48.8%, and the expected index for enterprise production and operation activities was 54.1%.

Sales in the 3. market continued to recover, and sales of upgraded goods grew rapidly.

In May, retail sales of consumer goods totaled 3780.3 billion billion yuan, up 12.7 percent from the same period last year, down 5.7 percentage points from the previous month and up 0.42 percent from the previous month. According to the location of the business unit, the retail sales of urban consumer goods was 3290.6 billion yuan, up 12.7 percent year-on-year; the retail sales of rural consumer goods was 489.7 billion yuan, up 12.8 percent. By consumption type, retail sales of goods were 3373.3 billion yuan, up 10.5 percent. Food and beverage revenue was 407 billion yuan, up 35.1 percent. The sales of upgraded goods grew rapidly, and the retail sales of communication equipment, gold and silver jewelry, and sports and entertainment goods above the quota increased by 27.4, 24.4, and 14.3, respectively. From January to May, the total retail sales of consumer goods was 18763.6 billion billion yuan, an increase of 9.3 percent over the same period last year, 0.8 percentage points faster than that in January-April. The national online retail sales amounted to 5690.6 billion billion yuan, up 13.8 percent from the same period last year, 1.5 percentage points faster than that in January-April. Among them, online retail sales of physical goods were 4805.5 billion billion yuan, an increase of 11.8 percent, accounting for 25.6 percent of the total retail sales of consumer goods.

The scale of investment in fixed assets in 4. has expanded, and investment in high-tech industries has grown rapidly.

From January to May, the national investment in fixed assets was 18881.5 billion billion yuan, an increase of 4.0 percent over the same period last year, down 0.7 percentage points from January to April. In terms of different fields, infrastructure investment increased by 7.5, manufacturing investment increased by 6.0, and real estate development investment decreased by 7.2. The sales area of commercial housing nationwide was 464.4 million square meters, down 0.9 percent from the same period last year. Sales of commercial housing reached 4978.7 billion billion yuan, up 8.4 percent. In terms of industries, investment in the primary industry increased by 0.1, investment in the secondary industry increased by 8.8, and investment in the tertiary industry increased by 2.0. Private investment fell by 0.1 per cent. Investment in high-tech industries increased by 12.8 year-on-year, of which investment in high-tech manufacturing and high-tech service industries increased by 12.8 and 13.0 respectively. In the high-tech manufacturing industry, investment in medical equipment and instrumentation manufacturing, and electronic and communication equipment manufacturing increased by 18.8 and 16.1 respectively; in the high-tech service industry, investment in the transformation of scientific and technological achievements service industry and professional technology service industry increased by 47.4 respectively.%, 40.6%. In May, fixed asset investment rose 0.11 percent month-on-month.

The import and export of 5. goods maintained growth, and the trade structure continued to be optimized.

In May, the total import and export of goods was 3446 billion billion yuan, up 0.5 percent year on year. Among them, exports of 1949.2 billion yuan, down 0.8; imports of 1496.8 billion yuan, an increase of 2.3. Imports and exports offset each other, with a trade surplus of 452.3 billion yuan. From January to May, the total import and export of goods was 16771.4 billion billion yuan, up 4.7 percent year on year. Among them, exports of 9621.4 billion yuan, an increase of 8.1; imports of 7150 billion yuan, an increase of 0.5. From January to May, general trade imports and exports increased by 7.0 percent year-on-year, accounting for 65.6 percent of total imports and exports, an increase of 1.4 percentage points over the same period last year. The import and export of private enterprises increased by 13.1 percent, accounting for 52.8 percent of the total import and export, an increase of 3.9 percentage points over the same period last year. Exports of mechanical and electrical products increased by 9.5, accounting for 57.9 per cent of total exports.

The employment situation in 6. is generally stable, and the urban survey unemployment rate is the same as last month.

In May, the national urban unemployment rate was 5.2 per cent, unchanged from the previous month. The unemployment rate of the local household registration labor force survey is 5.1 per cent; the unemployment rate of the foreign household registration labor force survey is 5.4 per cent, of which the unemployment rate of the foreign agricultural household registration labor force survey is 4.9 per cent. The labor force survey unemployment rates for 16-24 and 25-59 years old were 20.8 per cent and 4.1 per cent, respectively. Among the labor force aged 25-59, the labor force survey unemployment rates for junior high school education or below, Senior high school education, junior college education, and bachelor's degree or above were 4.4 per cent, 4.4 per cent, 4.1 per cent, and 3.2 per cent, respectively. The surveyed urban unemployment rate in 31 large cities is 5.5 per cent. The average weekly working time of employees in enterprises nationwide is 48.6 hours.

7. consumer prices up slightly year-on-year, industrial producer prices down year-on-year

In May, the national consumer price index rose 0.2 percent year-on-year and fell 0.2 percent month-on-month. In terms of categories, the price of food, tobacco and alcohol rose by 1.2 per cent, the price of clothing rose by 0.9 per cent, the price of housing fell by 0.2 per cent, the price of household goods and services fell by 0.1 per cent, the price of transportation and communication fell by 3.9 per cent, the price of education, culture and entertainment rose by 1.7 per cent, the price of health care rose by 1.1 per cent, and the price of other goods and services rose by 3.1 per cent. Among food, tobacco and alcohol prices, pork prices fell by 3.2 per cent, fresh vegetable prices by 1.7 per cent, grain prices by 0.5 per cent and fresh fruit prices by 3.4 per cent. Core CPI after food and energy prices rose 0.6 percent year-on-year. From January to May, national consumer prices rose 0.8 percent year-on-year.

In May, the ex factory prices of industrial producers nationwide decreased by 4.6% year-on-year and 0.9% month on month. The purchasing prices of industrial producers nationwide decreased by 5.3% year-on-year and 1.1% month on month. From January to May, the factory prices and purchase prices of industrial producers nationwide decreased by 2.6% and 2.3% year-on-year, respectively.

Overall, in May, the national economy continued to recover and transformation and upgrading continued to advance. However, it should also be noted that the international environment is complex and severe, there is significant pressure for domestic structural adjustment, and the foundation for economic recovery is not yet stable.

National Bureau of Statistics: The national economy continues to recover in May