一周综评与展望：PMI景气回升

Economic Data - In the first ten months of 2023, China's industrial enterprises achieved a total profit of 58,680.4 billion yuan, a year-on-year decrease of 4.3%[1] - In October 2023, the profit of the equipment manufacturing industry increased by 4.5% year-on-year, marking a turnaround from negative growth[1] - The manufacturing PMI for November 2023 is at 50.3%, up by 0.2 percentage points from the previous month, indicating expansion in the manufacturing sector[1] Market Trends - The non-manufacturing PMI for November 2023 shows service and construction indices at 50.1% and 49.7%, respectively, indicating a mixed recovery in these sectors[1] - The U.S. Treasury Secretary nominee, Scott Bentsen, supports tariffs and aims to balance economic growth with Trump's political agenda, increasing market expectations for strong tariff policies[2] - The divergence in monetary policy between central banks, with Japan raising interest rates twice this year, contrasts with the expected rate cuts in Europe due to faster-than-expected economic slowdown[2] Risks - Potential geopolitical risks, economic data falling short of expectations, and significant fluctuations in overseas markets pose threats to the economic outlook[3]