The National Bureau of Statistics announced the economic performance for the first half of 2022. Among them, the GDP of 31 provinces was also officially released. Public information shows that in the first half of 2022, my country’s total GDP was 56.2642 billion yuan, a year-on-year increase of 2.5%.
Looking at the specific industries, the added value of my country's primary industry is 2,913.7 billion yuan, the added value of the secondary industry is 22,863.6 billion yuan, and the added value of the tertiary industry is 30,486.8 billion yuan. Whether it is the development trend across the country or in various regions, industrial manufacturing is gradually being strengthened.
It is worth mentioning that in the first half of the year, the added value of my country's high-tech manufacturing industry increased by 9.6% year-on-year, which was 6.2 percentage points faster than that of all industries above designated size. While improving industry, our country has also enhanced the comprehensive coverage of scientific and technological strength.
Half-year data shows that we can still feel the impact of the epidemic. Especially in the second quarter, the country’s total retail sales of consumer goods fell by 4.6% year-on-year. Among them, the country’s total retail sales of consumer goods fell by 11.1% year-on-year in April; the decline narrowed to 6.7% in May; it turned from a decline to an increase in June, with a year-on-year increase of 3.1% and a month-on-month increase of 0.53%.
Returning to the semi-annual report card of my country’s 31 provinces, Guangdong continues to rank first and has maintained a relatively reasonable growth rate. html In the first half of the year, the total GDP of Guangdong Province was 5.9518 billion, with a year-on-year growth rate of 2%. Compared with such a huge foundation in Guangdong, such a growth rate is understandable.
During the same period, the total GDP of Jiangsu Province was 5,690.9 billion, with a year-on-year growth rate of 1.6%. Compared with other traditional economically powerful provinces, Jiangsu has obviously begun to slow down. Some scholars also believe that Jiangsu’s GDP may be subject to quarterly adjustments and will rebound strongly in the second half of the year.
What is the quarterly adjustment? Industry insiders pointed out that seasonal factors will lead to a disconnect between production and consumption in each quarter. Then if we calculate the quarter-on-quarter growth rate based on the original data of each quarter, there will be some inevitable errors, which will not truly reflect the true trend of economic development in each quarter.
So far, statisticians have invented the method of seasonal adjustment, which can smooth out holidays, seasonality and other factors that affect the disconnect between production and consumption.
Judging from the half-year data, Shandong is gradually coming out of the trough. In the first half of the year, the total GDP of Shandong Province was 4.1717 billion, a year-on-year increase of 3.6%, and the growth rate was at the leading level of my country's major economically powerful provinces. But extending the timeline, we can observe that the fourth economic census in the past few years reduced Shandong's economic aggregate by one trillion.
Moreover, in the past few years, Shandong's various types of data have still grown slowly. So in the first half of 2022, Shandong's total GDP achieved this growth rate, which is actually quite reasonable. But for Shandong, this growth rate does mean that it is slowly coming out of the trough.
In the first quarter data, Shandong has already shown the potential for development. In the first quarter of 2022, Shandong's investment structure continued to be optimized, fixed asset investment increased by 10.5%.
According to Shandong Provincial State-owned Assets Supervision and Administration Commission information, as of the end of the first quarter, the Shandong Provincial New and Old Kinetic Energy Conversion Fund had completed a total of 1,035 project investments, and the fund investment amount exceeded 110 billion yuan, driving social capital investment and financing to exceed 410 billion yuan. So what other thoughts do you have about the development of major provinces in my country?
