Domestic Economic Trends - In July, China's economic data showed a contraction in both supply and demand, with a notable decline in domestic demand[1] - The retail sales of passenger vehicles in early August reached 452,000 units, a year-on-year decrease of 4.5%[2] - The Baltic Dry Index (BDI) averaged 2011.4 in early August, reflecting a month-on-month increase of 10.1% and a year-on-year increase of 16.6%[2] Investment and Production Insights - Cement shipment rates and asphalt production rates showed slight increases, while rebar and high-line prices experienced minor declines[3] - As of August 17, the average operating rate of blast furnaces rose by 4.78 percentage points year-on-year to 83.61%[4] - The operating rate of asphalt facilities increased by 5.78 percentage points year-on-year to 32.3%[4] Inflation and Price Movements - As of August 15, the average wholesale price of pork decreased by 1.17% week-on-week, while vegetable prices rose by 3.16%[7] - WTI and Brent crude oil prices fell by 2.17% and 1.56% respectively, due to OPEC+ agreeing to increase production by 548,000 barrels per day[7] Fiscal and Monetary Policy Developments - This week, the issuance of special government bonds accelerated, with an additional 35 billion yuan issued[7] - The People's Bank of China conducted a 500 billion yuan reverse repurchase operation, signaling a commitment to maintain liquidity[7] International Relations and Market Reactions - The recent meeting between Trump and Putin did not yield substantial agreements but indicated a potential easing of tensions regarding the Ukraine conflict[1] - Market expectations for a Federal Reserve rate cut in September have begun to diminish, influenced by mixed economic data and comments from Fed officials[8]
宏观周报：经济还需更多呵护，美俄峰会引发全球舆论-20250817
Yin He Zheng Quan·2025-08-17 05:14