2024年6月：经济企稳下市场聚焦三中全会，预计联储9月前按兵不动

报告摘要 Domestic recovery continues; recent property easing measures to take effect gradually. Retail sales beat market expectations in May. Manufacturing investment momentum remains strong but industrial production growth slowed, consistent with a modest pace of domestic recovery. Property sales in certain cities rebounded despite overall sluggish national sales. We expect recent policy easing measures to take effect slowly with a smaller contraction in property sales this year. We also expect local governmen ...