【申万宏源策略】温和通胀重启，关注顺周期——2026年行业比较投资策略

Core Viewpoint - The article emphasizes a moderate inflation restart and suggests focusing on cyclical sectors for investment opportunities in 2026 [2] Group 1: Economic Outlook - The article predicts a gradual recovery in economic growth, driven by policy support and consumer demand [2] - Inflation is expected to stabilize around a moderate level, which will influence investment strategies [2] Group 2: Sector Analysis - The cyclical sectors are highlighted as potential beneficiaries of the economic recovery, particularly in industries such as materials and industrials [2] - The article suggests that companies within these sectors may experience improved earnings due to increased demand and pricing power [2] Group 3: Investment Strategy - A focus on value stocks within cyclical sectors is recommended, as they are likely to outperform growth stocks in the current economic environment [2] - The article advises investors to consider companies with strong balance sheets and cash flow generation capabilities [2]