Group 1 - The core viewpoint of the article indicates a mixed performance in consumption, investment, and production, with service consumption declining and durable goods showing weak performance [1] - In terms of investment, the real estate sector remains weak despite policy optimizations in major cities, with new home sales not improving significantly [1] - The export market is experiencing a rise in port capacity demand due to the upcoming Christmas stocking season, while domestic export freight rates are declining, indicating a retreat from technical rush shipments [1] Group 2 - Overall production activity is showing signs of recovery, with a stable Consumer Price Index (CPI) and a majority decline in the Producer Price Index (PPI) [1] - The 10-year government bond yield has risen to its highest level since 2025, likely linked to strong equity market performance and improved inflation data [1]
国泰海通｜宏观：生产热度回升，出口量价分化——国内高频指标跟踪（2025年第37期）
国泰海通证券研究·2025-09-15 13:43