The national economy continued to recover in October
2022-11-16
Core reading: production and demand have maintained a recovery trend, employment and prices have maintained overall stability, structural adjustment has made solid progress, and innovation driven growth is good... On November 15, the October economic data released by the National Bureau of Statistics showed that the national economy has generally continued the recovery trend, and the overall economic and social development has remained stable. On November 15, the National Bureau of Statistics released the economic data of October. In October, affected by the complex and severe international environment and the impact of domestic epidemic situation, the pressure on economic operation increased, and the year-on-year growth rate of some indicators fell back, but from a cumulative perspective, the overall stability was maintained. "The national economy has generally continued to recover, and the overall situation of economic and social development has remained stable." Fu Linghui, spokesman of the National Bureau of Statistics, said at the press conference held by the National News Office. What are the characteristics of economic operation? Production demand continued to recover, employment prices remained stable. In October, the international environment became more complex and severe, the downside risks of the world economy increased, domestic epidemic prevention and control pressure was greater, and the triple pressures of demand contraction, supply shock, and expected weakening increased the impact on economic operation. Hold the pressure and rise to the challenge. On the whole, the economic operation in October maintained a recovery trend and presented the following characteristics. Production and demand remain in a recovery state. From January to October, the added value of industries above designated size increased by 4% year on year, 0.1 percentage points faster than that of the previous September. The year-on-year growth rate of the service industry production index was the same as that of the previous September; Fixed asset investment and total retail sales of social consumer goods increased by 5.8% and 0.6% respectively year on year, with the growth rate falling 0.1 percentage point from the previous September. Employment and prices remained generally stable. Despite the great downward pressure on the economy, the policy of stabilizing employment continued to work. The national urban unemployment rate in October was 5.5%, unchanged from the previous month. In the face of high global inflation pressure, China's basic livelihood security and food and energy supply continued to strengthen. In October, CPI rose 2.1% year on year, 0.7 percentage points lower than last month. We made solid progress in structural adjustment. The development trend of industrial upgrading continued. In the first 10 months, the added value of high-tech manufacturing increased by 8.7% year-on-year, 0.2 percentage points faster than that from January to September. The growth of modern service industry is good. With the acceleration of economic digital transformation, relevant service industries have maintained rapid growth. In the first 10 months, the production index of information transmission, software and information technology service industries increased by 11.1%, significantly faster than the growth of all service industries. Innovation driven growth is good. The green and low-carbon transformation was accelerated. From January to October, the output of new energy vehicles and solar cells increased by 108.4% and 35.6% year on year respectively; The new business maintained a rapid growth. The online retail sales of physical goods increased by 7.2% year on year, 1.1 percentage points faster than that from January to September, and drove the growth of market sales by more than 1.5 percentage points. "On the whole, in October, China's economy continued to recover, production demand continued to recover, employment prices remained stable, new momentum was accumulated, people's livelihood was effectively guaranteed, and development resilience continued to show." Fu Linghui said. How will domestic demand recover? The consumer market has been hit in the short term, and domestic demand with more favorable conditions is medium
Edit：Yi Bin Responsible editor：Li Bin Wei
Source：People's Daily online
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