In July, the national economy continued to restore a new round of steady growth policy.

On August 15th, Fu Linghui, spokesman for the National Bureau of Statistics and Director of the Comprehensive Statistics of the National Economic Economic Affairs, said at the press conference of the National New Office that in July, the policies of the prevention and control of epidemics and economic and social development continued to be effective in July. The national economy continues to recover. However, we must also see that the risk of stagnation in the world economy has risen, and the foundation of domestic economic recovery is not firm.

Fu Linghui pointed out that in the next stage, we must adhere to the general tone of the work of steady progress. In a critical period, focus on expanding domestic demand, strive to stabilize employment and prices, effectively guarantee and improve people's livelihood, consolidate the foundation of economic recovery, and maintain economic operation in a reasonable range.

Economic presentation restoration

"The current economy shows a significant restoration. In July, economic data is a short -term fluctuation after the preliminary restoration. Chief analyst Yang Chang told the Securities Daily reporter.

Data show that in July, the added value of industries above designated size across the country increased by 3.8%year -on -year, 0.1 percentage points from the previous month; and 0.38%month -on -month. The national service industry production index increased by 0.6%year -on -year, down 0.7 percentage points from last month. Among them, information transmission, software and information technology services have increased by 10.3%and 4.9%, respectively.

Zhou Maohua, a macro researcher at the Everbright Bank Financial Market Department, told a reporter from the Securities Daily that the growth rate of industrial output in July was slightly less than expected. It is mainly dragged down by the slowdown in manufacturing output in July: First, the recovery of domestic demand is slow; second, some manufacturing companies in July continue to face the pressure of input cost; the third is extreme climate interference.

"However, the output of industrial manufacturing in July remained expanded, reflecting the continued recovery of the domestic industrial manufacturing industry. At the same time, the output of upstream resource mining industries, middle and lower reaches of automobiles, and equipment manufacturing continued to grow strongly." Zhou Maohua said.

"Although the momentum of the recovery of the service industry has slowed down, overall, the situation of the continued recovery of the service industry has not changed. As the service industry adjusts and transforms, it is driven by steady growth and promotion of consumption policies. Less favorable conditions. "Fu Linghui said.

In addition, the data shows that in July, the total retail sales of social consumer goods were 3587 billion yuan, a year -on -year increase of 2.7%, a decrease of 0.4 percentage points from the previous month; and 0.27%month -on -month. From January to July, the national fixed asset investment (excluding farmers) was 31981.2 billion yuan, a year -on -year increase of 5.7%, a decrease of 0.4 percentage points from January to June; and 0.16%in July.

"In July, affected by factors such as exudation from many places and slowing auto sales, the growth rate of the total zero zero was slower than last month." Fu Linghui said that one is that the sales of travel products have fallen. Second, the sales of some residential products are relatively sluggish.

Yang Chang said that after the densely issued local government debt from May to June, the physical workload of infrastructure projects is expected to be gradually reflected in the third quarter. Capital may be used to bridge the capital of special debt projects, which is expected to promote infrastructure projects to form a physical workload.

Zhou Maohua believes that the growth rate of fixed investment is expected to accelerate. From the perspective of the three major points, domestic policies have gone forward, the effect of stabilizing infrastructure investment policies is expected to be further released, and the growth rate of infrastructure investment has continued to accelerate. At the same time, domestic demand recovery, policy manufacturing investment such as stabilizing and helping enterprises is expected to continue to maintain a high degree of prosperity. In terms of real estate investment, with the continuous performance of the policy effects of the "policy of the city" in various places, the real estate market is expected to gradually bottom out and stabilize.

In July, consumer prices (CPIs) across the country rose 2.7%year -on -year, an increase of 0.2 percentage points from the previous month; and 0.5%month -on -month. In July, the factory price of industrial producers in the country rose 4.2%year -on -year, an increase of 1.9 percentage points from the previous month; a decrease of 1.3%month -on -month.

Fu Linghui said that from the perspective of economic data in July, the following characteristics are mainly presented: First, food prices rose rapidly. In July, food prices rose 6.3%year -on -year, an increase of 3.4 percentage points from the previous month, which is the main factor to drive the rise of CPI. Among them, affected by the influence of the early pig production capacity, the breeding of the breeding households, and the rise of consumer demand, the price of pork increased by 20.2%year -on -year, and the decrease of 6%last month. Affected by the continuous high temperature in many places, the price of fresh vegetables increased by 12.9%year -on -year, and the increase was significantly higher than the same period of previous years. Second, the increase in energy prices fell. Affected by changes in international crude oil prices, the price of gasoline and diesel in July rose 24.6%and 26.7%year -on -year, respectively, and the increase fell 8.8 percentage points and 9.6 percentage points from the previous month. Third, the increase in industrial consumer goods and services that deduct energy from energy have fallen.

Macroeconomic return to normal

Growth trend will not change

"On the whole, domestic accurate relief, reducing the cost of financing in the real economy, and increasing effective investment through reasonable investment, promoting the stable development policy of real estate, etc., will help boost investment performance in the second half of the year." Zhou Maohua said.

Regarding the annual economic trend, Fu Linghui said that the economy is still in the process of recovery. The market demand has a large restriction effect, and the difficulty of corporate operations is more difficult. The foundation of economic recovery needs to be consolidated. Although facing difficulties and challenges, my country's economic toughness, great potential, and wide space have obvious characteristics. The long -term good fundamentals have not changed. Under a series of policies and measures to prevent epidemic, stabilize the economy, and ensure development security, The economy is expected to recover better and run in a reasonable range. Dongfang Jincheng chief macro analyst Wang Qing told the "Securities Daily" reporter that overall, under the influence of global economic slowdown and domestic epidemic fluctuations, the macroeconomic data in July was not as good as market expectations. Essence However, represented by policies and interest rate cuts, a new round of stable growth policy is increasing. In addition, a package of measures to stabilize the economic market in the previous period has gradually achieved results. In September, the downward trend of industrial production, investment, and consumption data is expected to be curbed.

"Short -term fluctuations will not change the general trend of the macroeconomic return in the second half of the year. Following the decline in the policy interest rates, the next fiscal policy and industrial policy are also expected to further increase their efforts to support steady growth." Wang Qing expects Essence

(Editor in charge: Chang Shuai Shuai)

- END -