Core Viewpoint - The U.S. economy is showing strong growth as indicated by GDP data, and the Federal Reserve is expected to respond to this data soon [1] Group 1: Economic Indicators - GDP data indicates robust economic growth [1] - The Federal Reserve is highly data-dependent and is anticipated to catch up with economic trends shortly [1] Group 2: Government Policies - The White House emphasizes the importance of tariff revenue in reducing the deficit [1] - Agreements with the European Union and Japan are seen as beneficial for promoting capital expenditure [1] - There is a hope for India to open its market to the U.S. [1]

加拿大央行：目前的关税情景下，2025年下半年GDP增长约1%，然后回升，到2027年达到1.8%；在未 来的情景中，通胀率将保持在接近2%的水平。 ...

新华财经法兰克福7月30日电（记者马悦然）欧盟统计局30日公布的初步数据显示，2025年第二季度， 欧元区国内生产总值（GDP）环比增长0.1%，好于此前"持平"的市场预期。欧盟整体GDP则环比增长 0.2%。 按年率计算，欧元区第二季度GDP同比增长1.4%，欧盟增长1.5%，均略低于第一季度的增速。 数据显示，欧元区多国经济增长分化明显。西班牙（+0.7%）、葡萄牙（+0.6%）和爱沙尼亚（+0.5%） 环比增长领跑。相比之下，德国和意大利GDP均小幅下滑0.1%。 德国联邦统计局当天早些时候发布的数据显示，2025年第二季度德国经济环比萎缩0.1%，符合市场预 期。该数据较第一季度修正后的0.3%增长相比明显放缓。 德国联邦统计局指出，机械设备和建筑投资低迷是经济放缓的主要原因，但私人和政府消费支出有所回 升。 当前欧元区经济运行亦受到外部因素影响。自2025年4月起，美国新一轮关税政策正式实施，对欧洲汽 车、钢铁、铝等行业形成压力。尽管随后美欧双方围绕关税议题展开谈判，并于上周末达成初步贸易框 架协议，部分商品获得关税豁免，汽车关税回落至基准水平，但贸易政策的不确定性依然是制约投资与 生产的重要因素。 ...

美国二季度进口大幅下跌 提振GDP增长 金十数据7月30日讯，美国二季度的经济反弹主要是由于进口量大幅下降，而非美国经济本身真正加 速。PGIM固定收益的首席美国经济学家汤姆·波切利表示："如果只看整体GDP的变化，是无法真正了 解经济表象之下的状况。"他指出，季度GDP增长受到库存与贸易这两个高度波动因素的强烈影响。年 初，企业提前进口商品，造成进口暴增，从而拖累了第一季度GDP。二季度以来，商品进口自3月以来 累计下降了23%，不仅完全抹去了一季度因关税带来的"提前进口效应"，还进一步压低了进口水平。与 此同时，出口仅下降了2.5%，这意味着净出口将在第二季度明显提振GDP。 ...

Group 1 - The Eurozone GDP grew by 0.1% quarter-on-quarter in Q2, while the EU GDP grew by 0.2% [1] - Year-on-year, the Eurozone GDP increased by 1.4% in Q2, and the EU GDP rose by 1.5% [1] - In Q1, the Eurozone GDP grew by 1.5% year-on-year, and the EU GDP increased by 1.6% [1] Group 2 - Germany, the largest economy in the EU, saw a GDP contraction of 0.1% in Q2, while France and Spain experienced growth of 0.3% and 0.7% respectively [1] - Italy's GDP also contracted by 0.1%, and Ireland's GDP shrank by 1% in Q2 [1] - The final GDP figures for Q1 showed a quarter-on-quarter growth of 0.6% for the Eurozone and 0.5% for the EU [1] Group 3 - Analysts indicate that the recent trade agreement between the US and EU may weaken EU export competitiveness due to high tariffs [1] - Increased investment from the EU to the US and the relocation of some production from Europe to the US could negatively impact local industry development and employment in the EU [1] - These factors are likely to drag down the economic growth prospects for the EU [1]

Economic Performance - Eurozone's GDP growth in Q2 2025 shows a significant slowdown, with a quarter-on-quarter growth rate dropping from 0.6% in Q1 to 0.1%, but still surpassing the market expectation of zero growth [1][2] - Year-on-year GDP growth for the Eurozone reached 1.4%, exceeding the anticipated 1.2% [1][2] Country-Specific Insights - Germany's economy contracted by 0.1% in Q2 2025, following a 0.3% growth in Q1, indicating a notable slowdown [8] - Italy unexpectedly shrank by 0.1% in Q2, contrary to expectations of slight growth, posing challenges for the government [8] - France's economy grew by 0.3% in Q2, driven mainly by inventory increases, despite weak domestic demand [8] - Spain outperformed expectations with a 0.7% growth in Q2 [9] Monetary Policy Outlook - The European Central Bank (ECB) has lowered its key interest rate to 2% over the past 13 months to stimulate the economy, but the latest data suggests a reduced necessity for further easing [1][12] - Market expectations for another rate cut by the ECB before December are currently at 50% [1][12] Trade and Economic Environment - The trade environment remains a primary concern, particularly due to the impact of U.S. tariffs on European economies [5] - A new trade agreement with the U.S. has raised concerns among German and French leaders about potential negative impacts on the EU economy [5][12] - Germany plans to significantly increase budget spending for infrastructure and defense starting next year, which may mitigate the negative effects of tariffs [12]

南方财经记者 陈思琦 深圳报道 市场销售增长加快。上半年，深圳社会消费品零售总额4948.68亿元，同比增长3.5%，增速比一季度加 快0.4个百分点。分消费类型看，商品零售增长3.6%；餐饮收入增长1.7%。基本生活类商品增势较好， 限额以上单位日用品类、粮油食品类零售额分别增长10.7%、9.1%。 值得一提的是，消费品以旧换新政策继续显效，限额以上单位家用电器和音像器材类、文化办公用品 类、通讯器材类零售额分别增长55.7%、32.9%、6.0%。网上零售持续增长，限额以上单位通过互联网 实现的商品零售额增长19.4%。 7月30日，深圳市统计局发布2025年上半年深圳经济运行情况。 根据广东省地区生产总值统一核算结果，2025年上半年，深圳市地区生产总值18322.26亿元，按不变价 格计算，同比增长5.1%。其中，第一产业增加值10.33亿元，增长2.8%；第二产业增加值6505.56亿元， 增长3.3%；第三产业增加值11806.37亿元，增长6.1%。 工业生产稳步增长。上半年，深圳市规模以上工业增加值同比增长4.3%，增速比一季度加快0.1个百分 点。分门类看，采矿业增加值同比增长0.5%，制 ...

智通财经7月30日电，欧元区第二季度GDP环比增长0.1%，预期值为0%。 ...

智通财经7月30日电，荷兰统计局（CBS）数据显示，荷兰第二季度GDP同比增长1.5%，环比增长 0.1%。 ...

Group 1 - The core viewpoint of the articles indicates that the U.S. trade deficit in goods narrowed more than expected in June, reflecting a general decline in imports as the purchasing momentum before the implementation of the Trump administration's tariff policies weakened [1][4] - The U.S. Department of Commerce reported that the unadjusted goods trade deficit decreased by 10.8% to $86 billion, which is below all economists' forecasts [1] - In June, imports fell by 4.2% to $264.2 billion, with consumer goods imports dropping to the lowest level since September 2020, and industrial goods imports hitting a new low since 2021 [1] Group 2 - The latest trade data will provide economists with a basis to adjust estimates of the net export contribution to GDP growth for the second quarter, with significant improvement expected compared to the first quarter [4] - In the first quarter, U.S. companies significantly increased imports to beat the tariff implementation, leading to a 4.61 percentage point reduction in net exports' contribution to GDP, which directly caused a 0.5% contraction in economic growth [4] - The Atlanta Fed's GDPNow model predicted a 2.4% growth for the U.S. economy from April to June, with net exports expected to contribute 3.31 percentage points [4] Group 3 - Current uncertainties in the manufacturing sector are attributed to the frequently changing tariff policies of the Trump administration, despite some trade partners reaching agreements [4] - The Trump administration's tariffs are a core strategy aimed at stimulating domestic production, boosting exports, reducing trade deficits, increasing fiscal revenue, and enhancing national security [4] - A more comprehensive trade data report, including the balance of services, is scheduled for release on August 5 [4]