Affected by the epidemic, economic data fell back in October.

Economic indicators such as industrial production and consumption have slowed down, but with the support of various previous policies, investment in infrastructure and manufacturing has remained at a high level, supporting investment growth to remain stable.

Data released by the National Bureau of Statistics on November 15 showed that in October, the total retail sales of consumer goods fell by 0.5% year-on-year, and the growth rate slowed down 3.0 percentage points from the previous month. The added value of industrial enterprises above designated size rose by 5.0% year-on-year, down 1.3% from the previous month.

percentage points.

From January to October, national fixed asset investment increased by 5.8% year-on-year, and the growth rate dropped by 0.1 percentage point from the previous nine months.

Among them, infrastructure investment increased by 8.7% year-on-year, accelerating for six consecutive months.

Fu Linghui, spokesperson of the National Bureau of Statistics, said at a press conference of the State Council Information Office on the 15th that overall, the national economy withstood the impact of multiple domestic and foreign unexpected factors in October and continued to maintain a recovery trend.

However, the international environment has become more complex and severe, and the foundation for domestic economic recovery is not yet solid.

Recently, the Comprehensive Team of the Joint Prevention and Control Mechanism of the State Council issued 20 measures to further optimize epidemic prevention and control work.

Fu Linghui emphasized that this will help improve the scientific nature and accuracy of epidemic prevention and control, protect people's life safety and health to the greatest extent, and minimize the impact of the epidemic on economic and social development.

With the effective implementation of these measures, it will be conducive to maintaining normal production and living order, restoring market demand and smoothing the economic cycle.

Regarding the next economic trend, many experts interviewed by China Business News analyzed that with the recent implementation of various stabilizing growth policies, the internal and external situation has shown a marginal improvement trend, including the further optimization of domestic epidemic prevention and control policies and the increase of real estate support policies.

, data will improve in subsequent months.

In particular, the country has recently introduced 20 measures to optimize epidemic prevention and control, adopting a more scientific and accurate approach to epidemic prevention and control. It is expected that the economy will continue to recover and rise in the future.

Decline in consumption growth Affected by the epidemic, consumption growth has declined for the second consecutive month and has experienced negative year-on-year growth again since June this year.

In October, the total retail sales of consumer goods was 4.0271 billion yuan, a year-on-year decrease of 0.5%.

Retail sales of consumer goods other than automobiles fell 0.9%.

Fu Linghui said that judging from the situation in October, due to the frequent outbreaks of domestic epidemics, contact aggregation consumption in some areas has been affected to a certain extent, especially the overall slowdown in some service consumption.

Total retail sales of consumer goods fell by 0.5% year-on-year in October, of which catering revenue fell by 8.1%.

Although we have seen short-term impacts on the consumer market, residents' basic living expenses are guaranteed.

Online retail continues to play a driving role in market sales, supporting consumption to a certain extent.

Data show that in the first 10 months, the national online retail sales of physical goods increased by 7.2% year-on-year, 1.1 percentage points faster than from January to September, driving market sales growth by more than 1.5 percentage points.

Fu Linghui said that judging from the next stage, the impact of the epidemic on market sales will still exist, but overall it is short-term and external. There are still many favorable conditions for my country's consumption to recover.

Affected by various factors at home and abroad, consumption still faces many challenges. However, with the gradual implementation of various consumption-promoting policies, as the economy gradually recovers, residents' employment improves, and incomes increase, it is still worth looking forward to the recovery trend of consumption.

Wang Jun, director of the China Chief Economist Forum, told China Business News that efforts should be made in three aspects to promote consumption.

The first is to stabilize the economic operation near the potential growth rate as soon as possible. Only by maintaining a relatively fast economic growth can we create more job opportunities and stable income; the second is to stabilize consumption and investment in the real estate market. Although buying a house is

Investment behavior, but a series of consumption behaviors after purchasing a house are also an important part of residents' consumption; third, we must consolidate the current good situation of automobile consumption and create more conditions to maintain this good momentum.

The growth rate of infrastructure investment has rebounded for six consecutive months. In the face of economic downward pressure, all parties have actively promoted the implementation of policies to stabilize investment and the results have gradually emerged.

With the strong support of special bonds and policy development financial instruments, the construction of investment projects has steadily advanced, and investment has generally maintained steady growth.

In the first 10 months, fixed asset investment increased by 5.8% year-on-year.

All localities are actively promoting the construction of major projects such as new energy and new medicine, strengthening the manufacturing chain and strengthening the chain, and strongly supporting manufacturing investment.

In the first 10 months, manufacturing investment increased by 9.7% year-on-year, of which equipment manufacturing industry increased by 19.6%, and manufacturing investment in technological transformation increased by 10.4%. Manufacturing investment growth contributed more than 40% to all investment growth.

With the acceleration of the issuance and use of local special bonds, the effective investment of policy development financial instruments, the acceleration of infrastructure construction such as transportation, water conservancy, public facilities, and new infrastructure such as information technology and big data, infrastructure investment continues to rebound.

In the first 10 months, infrastructure investment increased by 8.7% year-on-year, and the growth rate accelerated for six consecutive months.

Investment in high-tech manufacturing also maintained good growth momentum.