国内高频 | 人流出行延续高位（申万宏观·赵伟团队）

Group 1: Industrial Production Tracking - The industrial production shows a divergence, with the construction sector experiencing a slight recovery in activity [2] - The blast furnace operating rate remains resilient, with a week-on-week increase of 0.1% and a year-on-year rise of 0.1 percentage points to 2.3% [2] - Steel apparent consumption has decreased, showing a year-on-year decline of 3.5 percentage points to -6.4% compared to the week before the Spring Festival [2] - The social inventory of steel has increased significantly, rising by 9.6% week-on-week [2] Group 2: Demand Tracking - The national real estate transaction volume has improved, particularly in second-tier cities, with a year-on-year increase in average daily transaction area to 106.8% [50] - First-tier cities saw a year-on-year increase in transactions of 47.9%, while second and third-tier cities experienced even larger increases of 137.8% and 97.4% respectively [50] - Freight volume and port cargo throughput related to domestic demand have both increased, with railway freight volume rising by 2.1 percentage points to 3.1% year-on-year [62] - The national migration scale index has increased by 36.8 percentage points to 52.7% [74] Group 3: Price Tracking - Agricultural product prices have generally declined, with egg and vegetable prices dropping by 3.4% week-on-week [104] - The industrial product price index has shown a mixed trend, with the Nanhua industrial price index decreasing by 0.5% week-on-week [116] - The energy and chemical price index fell by 1.1%, while the metal price index increased by 0.4% [116]