Strong Momentum in Manufacturing Equipment Renewal During the First Three Quarters

Deep News10-25

Data from the invoice system of the State Taxation Administration shows that in the first three quarters, corporate equipment investment grew steadily, with strong renewal momentum in manufacturing and other sectors. Nationwide, the amount of machinery and equipment purchased by enterprises, which reflects equipment investment, rose 12.6% year on year, including a 15.9% increase in the third quarter, 4.6 percentage points higher than the second-quarter growth rate.

Specifically, manufacturing showed relatively strong momentum in equipment renewal, with machinery and equipment purchases rising 17.6% year on year in the third quarter, 4.7 percentage points higher than the second-quarter growth rate. Driven by the accelerated construction of computing power centers and data centers, machinery and equipment purchases in the information and scientific research sectors grew 30.4% and 24.9% year on year, respectively, in the third quarter, up 6 and 4.1 percentage points from the second-quarter growth rates.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap
Leave a comment