National Bureau of Statistics: Structural adjustments and people’s livelihood protection are strong and effective in October, the national economy maintained its recovery trend

The State Council Information Office held a press conference this morning (November 15), and the National Bureau of Statistics introduced the operation of my country’s national economy. Data show that in October, my country’s main macroeconomic indicators were generally within a reasonable range, structural adjustments and people’s livelihood protection were effective and effective, and the national economy maintained a recovery trend.

From a cumulative point of view, my country’s main macroeconomic indicators have maintained relatively rapid growth. In the first 10 months, the value added of the industrial enterprises above designated size increased by 10.9% year-on-year, the service industry production index increased by 15.1% year-on-year, the total retail sales of consumer goods increased by 14.9% year-on-year, and the total volume of imports and exports of goods increased by 22.2% year-on-year.

From a single month perspective, in October, the added value of industrial enterprises above designated size increased by an average of 5.2% in two years, and the growth rate was 0.2 percentage points higher than the previous month. The service industry production index increased by an average of 5.5% in two years, which was also an increase of 0.2 percentage points from the previous month. The effectiveness of market guarantees is evident. In October, the year-on-year growth rate of my country’s raw coal output shifted from a decline in the previous month to an increase, and the output of metal containers and integrated circuits, which were in short supply in the market, increased respectively. The increase in freight volume and turnover of railways and waterways has increased compared with the previous month.

At the same time, the employment stabilization policy continued to exert force, and the employment situation was generally stable. In October, the surveyed unemployment rate in cities and towns across the country was 4.9%, the same as the previous month, and lower than the same period last year and the same period in 2019. The market for goods and services is adequately supplied, and consumer prices have risen moderately.

It is worth noting that the structural adjustment has been steadily advanced, and the high-tech industry has developed rapidly. In October, the added value of high-tech manufacturing above designated size increased by 14.7% year-on-year, an acceleration of 0.7 percentage points from the previous month.

Fu Linghui, spokesperson for the National Bureau of Statistics: These circumstances show that the continued economic recovery of our country has not changed, and positive factors are accumulatively increasing. However, it should also be noted that there are still many factors of international instability and uncertainty. In the next stage, it is necessary to strengthen the cross-cycle adjustment of macroeconomic policies to ensure the completion of the main objectives and tasks of economic and social development throughout the year.