投资咨询业务资格： 证监许可[2011]1771号 HTTP://WWW.QH168.COM.CN 1 / 6 请务必仔细阅读正文后免责申明 继续加快，汽车制造业、计算机、通信和其他电子设备制造业同比录得9.8%和14.6%的大 幅增长。随着国内经济复苏步伐加快，工业生产增速整体有望逐步上升。 固定资产投资增速超预期回升。 房地产销售和投资仍旧偏弱。1-2月房地产开发投资同比增长-9%，降幅较前值收窄15个 百分点，商品房销售面积同比增长-20.5%，降幅较前值收窄2.5个百分点，商品房销售额 同比增长-29.3%，降幅较前值扩大6.4个百分点，房地产销售和投资降幅短期有所收窄， 但整体仍旧偏弱。房地产开发资金来源方面，1-2月当月同比增长-24.1%，降幅扩大6.3%， 资金来源压力仍旧较大。房地产新开工面积同比增长-29.7%，降幅较前值扩大18.1个百分 点，施工面积同比增长-11%，降幅较前值缩窄2.8个百分点，竣工面积同比增长-20.2%， 降幅较前值扩大33.6个百分点。目前房地产资金来源方面，由于销售端整体较弱，销售回 款下降，虽然房地产企业加大融资、自筹资金力度，但房地产资金来源压力仍旧较大， ...

Economic Overview - The U.S. economy shows resilience with a strong recovery trend, supported by a February Markit manufacturing PMI of 51.5 and a non-farm payroll increase of 275,000 jobs[57] - The Eurozone economy is experiencing marginal recovery, with a February manufacturing PMI of 46.5, indicating overall weakness compared to the U.S.[61] - China's economic recovery is slow, with a February official manufacturing PMI of 49.1, suggesting a need for stronger growth measures[65] Inflation Trends - Global inflation is generally declining, but core inflation in developed economies remains high, with the U.S. February CPI at 3.2%[70] - China's inflation is relatively low, with a February CPI of 0.7%, while India and Russia experience higher inflation rates of 5.2% and 7.7%, respectively[71] Monetary Policy - The Federal Reserve is expected to cut interest rates 2-3 times this year, with current rates held at 5.25%-5.50%[76] - The European Central Bank is anticipated to initiate rate cuts earlier than the Fed due to weaker economic growth[77] - Japan is entering a rate hike cycle, with expectations of at least two increases this year, reflecting a stronger economic recovery[77] Capital Attraction - The U.S. remains highly attractive for capital, with significant international capital inflows exceeding $1 trillion in 2022 and 2023[3] - The Eurozone's capital attractiveness has improved, but it still lags behind the U.S., particularly after the energy price surge due to the Russia-Ukraine conflict[10] - China's capital attractiveness is under pressure, with significant outflows observed in recent years, although there are signs of potential inflows[12]