Industrial production continued to recover in May, and the decline in corporate profits continued to narrow
2023-06-28
According to data released by the National Bureau of Statistics today, from January to May, industrial enterprises above designated size nationwide achieved a total profit of 266.89 billion yuan, a year-on-year decrease of 18.8%, a decrease of 1.8 percentage points compared to January to April. Sun Xiao, Statistician of the Industry Department of the National Bureau of Statistics, said that in May, as industrial production continued to recover, the decline in profits of industrial enterprises continued to narrow, and the situation of enterprise benefits showed the following main characteristics: First, the decline in profits of industrial enterprises continued to narrow. In May, the profits of industrial enterprises above designated size nationwide decreased by 12.6% year-on-year, a decrease of 5.6 percentage points compared to April, and narrowed for three consecutive months. Enterprise profits showed a steady recovery trend. Among them, the manufacturing industry has gradually shown effectiveness with various policy measures to promote its development, and profits have significantly improved. The decrease in manufacturing profits in May narrowed by 7.4 percentage points compared to April, driving a 4.9 percentage point decrease in industrial profits above designated size. From January to May, the profits of industrial enterprises above designated size decreased by 18.8% year-on-year, a decrease of 1.8 percentage points compared to January to April. The second is that the profit of the equipment manufacturing industry maintains rapid growth, and the profit structure of industrial enterprises continues to improve. In May, the profit of the equipment manufacturing industry increased by 15.2% year-on-year, maintaining double-digit growth for two consecutive months, driving a 4.6 percentage point increase in industrial profits above designated size, making it the industry sector with the largest contribution. The proportion of profits in the equipment manufacturing industry to industries above designated size is 39.6%, an increase of 5.3 percentage points compared to April, marking the third consecutive month of increase. The profit structure of industrial enterprises has shown a significant improvement trend. From an industry perspective, due to factors such as rapid growth in car sales, booming production and sales of new energy vehicles, and increased investment returns, the profit of the automotive manufacturing industry has increased by 1.02 times; The electrical and mechanical industry was driven by new energy products such as photovoltaic equipment and lithium-ion batteries, resulting in a profit growth of 27.3%; The general equipment, specialized equipment, and instrumentation industries were driven by products such as central air conditioning, medical equipment, and industrial automatic control systems, with profits increasing by 30.9%, 27.7%, and 26.6%, respectively. Thirdly, the profit decline in the consumer goods manufacturing industry has narrowed, boosting the improvement of industrial enterprise profits. In May, with the continuous recovery of consumer demand, the profit decline in the consumer goods manufacturing industry significantly narrowed by 17.1 percentage points compared to April, leading to a 2.9 percentage point decrease in industrial profits above designated size. Among them, the profits of the leather shoe and textile clothing industries increased by 1.05 times and 47.0% respectively year-on-year, with significant improvement in profits; The profits of the refined tea and food manufacturing industries in alcoholic beverages increased by 10.3% and 8.4% respectively, with growth rates accelerating by 8.4 and 2.9 percentage points respectively; The profit decline in the pharmaceutical manufacturing industry narrowed by 22.0 percentage points. Fourthly, the profits of the electrical and water industry have maintained rapid growth. In May, the profits of the electricity, heating, gas, and water production and supply industries increased by 35.9% year-on-year, continuing to maintain rapid growth. From an industry perspective, with the deepening of electricity supply guarantee during peak season, power generation continues to grow, and the profit of the power industry has increased by 40.7%; The profits of gas production and supply industry, water production and supply industry increased by 18.8% and 28.9% respectively. Fifth, profits of enterprises of different scales have improved. In May, workers above designated size
Edit：Hou Wenzhe Responsible editor：WeiZe
Source：people.cn
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