Economic Indicators - Rising oil prices have increased inflationary pressure and reduced expectations for interest rate cuts, raising stagflation risk[3] - February's overall US CPI rose 2.4% YoY, aligning with market expectations[3] - The US unemployment rate was 4.4%, slightly above the expected 4.3%, influenced by medical strikes and severe weather[3] Consumer Behavior - January US retail sales declined by 0.16% MoM, better than the market expectation of -0.3%[3] - The 'No-Buy January' campaign has gained traction in Europe and the US, contributing to low consumer willingness to spend[3] - Car sales and gas station sales have decreased, negatively impacting overall retail data[3] Market Trends - The ISM Manufacturing PMI for February reached 52.4, exceeding market expectations and indicating continued expansion[3] - The new orders index returned to the expansion range, highlighting strong demand in manufacturing[3] - Energy prices have surged, significantly raising market expectations for the March CPI[3]
美国大消费动态全景追踪M3：油价飙升就业低于预期滞胀风险增加，GLP-1减肥药持续重塑服饰需求
Haitong Securities International·2026-03-15 13:46