【每周经济观察】：法国制造业PMI升至近四年新高——海外周报第124期-20260125

Economic Data Review - The US January S&P Global Manufacturing PMI rose to 51, indicating expansion, while the Q3 actual GDP annualized growth rate was finalized at 4.4%, up from a previous value of 3.8%[1] - Japan's December export growth was below expectations, with a year-on-year increase of 5.1%, compared to an expected 6.1%[10] - The Eurozone's January ZEW Economic Sentiment Index increased to 40.8, up from 33.7, and the manufacturing PMI preliminary value rose to 49.4, with France's manufacturing PMI reaching a near four-year high of 51[10] US Economic Indicators - The WEI index for the US rose to 2.34% from 2.4% the previous week, indicating a slight increase in economic activity[2] - The US Redbook retail sales year-on-year growth rate marginally decreased to 5.5% from 5.7%[17] - The 30-year mortgage rate in the US increased to 6.09% from 6.06% the previous week, while the MBA Market Composite Index rose to 397.2, a 14.1% increase week-on-week[21] Employment Trends - ADP weekly job additions fell to 46,000, down from 70,000 the previous week[26] - Initial jobless claims in the US rose to 200,000 from 199,000 the previous week, while continuing claims decreased to 1.849 million from 1.875 million[30] - The INDEED job vacancy index fell to a weekly average of 105.3, down 0.5% from the previous week[34] Price Movements - The RJ/CRB Commodity Price Index increased to 312.24, up 3.4% week-on-week and 3.6% over two weeks[36] - The average retail gasoline price in the US rose to $2.70 per gallon, a 1.3% increase from the previous week[36] Financial Conditions - Financial conditions in the US and Eurozone tightened, with the Bloomberg Financial Conditions Index for the US dropping to 0.812 from 0.848 the previous week[43] - Offshore dollar liquidity showed improvement for the yen against the dollar, while liquidity for the euro against the dollar worsened[46] - The 10-year US-EU bond yield spread narrowed to 132.3 basis points from 134.6 basis points the previous week[48]