港口集装箱吞吐量明显反弹——每周经济观察第48期

Economic Outlook - The macroeconomic WEI index has declined to 4.62% as of November 23, down from 5.42% the previous week, indicating a downward trend since late September [8][9] - Retail sales of passenger cars have seen a slight narrowing in decline, with a year-on-year decrease of 7% as of November 23, compared to 9% previously [2][13] - The real estate market continues to struggle, with residential sales dropping by 35% year-on-year in 67 cities as of November 29 [3][13] Trade and Exports - Port container throughput has rebounded significantly, with a 5.4% increase week-on-week as of November 23, and a year-on-year increase of 10% [22][23] - New export orders in China's manufacturing PMI rose to 47.6%, reflecting a notable increase of 1.7 percentage points from the previous month [24] Prices and Commodities - Prices of precious metals and agricultural products have risen, with COMEX gold reaching $4223.9 per ounce, up 3.4%, and LME copper at $10,985 per ton, up 2.7% [2][40] - Domestic agricultural prices have generally increased, with vegetable prices up 1.9% and egg prices up 1.2%, while pork prices fell by 0.4% [41][42] Infrastructure and Production - Infrastructure data remains weak, with cement dispatch rates at 33.4%, unchanged from the previous week and down from 36.5% year-on-year [15] - The asphalt plant operating rate has increased to 28%, up 3 percentage points from the previous week, but still down 4.7 percentage points year-on-year [15] Interest Rates and Debt - Interest rates remain relatively stable, with 1-year, 5-year, and 10-year government bond yields reported at 1.4017%, 1.6183%, and 1.8412%, respectively [55] - The issuance of special bonds to support infrastructure projects has been significant, with plans for 1.5 trillion yuan in long-term bonds to support nearly 3,000 projects [45]