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2012年福建经济增长整体较去年有所放缓,但总体仍保持了平稳、较快的发展态势,主要指标增速高于全国平均水平,在东部位居前列。从四季度看,虽然经济增速较三季度略有放缓,但仍处于潜在增长水平的合理区间,与此同时通胀水平出现了明显回落,我们认为这总体上是一个良性态势。从三大需求看,四季度投资、消费、出口的增幅均出现了不同程度的放缓,投资和消费已经成为主导总需求增长的关键。从四大宏观主体看,四季度工业企业产出增长稳中趋缓,利润增幅显著回升;城乡居民收入增长下降,支出增长放缓;地方政府财政收入增速回落,财政支出增幅回升;银行金融机构信贷增长有所放缓,存贷比小幅回落。
In 2012, Fujian’s overall economic growth slowed down compared with last year. However, overall, Fujian’s economy maintained a steady and rapid growth momentum. The growth rate of major indicators was above the national average and ranked the top in the east. Looking from the fourth quarter, although the economic growth rate slightly slowed down compared with the third quarter, it is still at a reasonable range of potential growth levels. At the same time, the inflation level has dropped significantly. In our opinion, this is generally a positive trend. Judging from the three major demands, the growth rate of investment, consumption and export in the fourth quarter all showed various degrees of slowdown. Investment and consumption have become the key to leading the growth in aggregate demand. From the perspective of the four macro-entities, the output growth of industrial enterprises slowed down steadily in the fourth quarter and the profit growth rebounded notably. The income growth of urban and rural residents dropped while the growth of expenditure slowed down. The growth rate of local government revenue dropped and the fiscal expenditure rose and the banking finance Institutional credit growth slowed down, while the loan-to-deposit ratio declined slightly.