金十数据5月2日讯，凯投宏观经济学家在一份报告中说，4月份欧元区服务业通胀的上升可能不会让欧 洲央行官员担心，因为这主要是由复活节时间效应推动的。核心通胀率从3月份的2.4%上升至4月份的 2.7%，涨幅超出预期，这完全是由于服务业通胀率从3.5%上升至3.9%。但服务业通胀将在未来几个月 再次开始下降，而美国的关税将对欧元区起到抑制通胀的作用。这将为今年再降息两次铺平道路。 欧洲央行可以无视欧元区服务业通胀上升 ...

Core Insights - The rise in core inflation in the Eurozone for April should not alarm European Central Bank (ECB) policymakers as it is considered temporary, primarily driven by the service sector [1] - The core inflation rate increased from 2.4% to 2.7%, while service sector inflation rose from 3.5% to 3.9%, influenced partly by the timing of Easter [1] - A decline in oil prices and a stronger euro are expected to reduce energy inflation, leading to lower production input and import costs [1] - The impact on demand is anticipated to lower core inflation and accelerate the slowdown in wage growth [1] - This deflationary trend suggests that the ECB may consider lowering interest rates in the June meeting and then maintain rates steady [1]

瑞士4月服务业PMI 52.4，前值 50.6。 ...

日本央行行长植田和男：（当被问及关税不确定性是否会扰乱服务业通胀和价格传导时）这一可能性是 合理的。 ...

专家表示，虽然4月份外贸环境的变化给我国制造业带来一定的扰动，但是我国超大规模市场、完备产业链供应链体系等优势持续发挥作用， 可有效抵御外部冲击，保障经济的稳定运行。 中国物流与采购联合会副会长胡大剑介绍，我国在制造业发展当中，配套能力在全球是无法替代的。同时，数字化包括智能化应用方面，我国 比全球其他经济体也更具优势。 央视网消息：中国物流与采购联合会、国家统计局服务业调查中心4月30日公布4月份中国采购经理指数。受外部环境急剧变化等因素影响，4 月份，制造业采购经理指数较上月有所回落，但高技术制造业等相关行业继续保持扩张，以内销为主的制造业企业生产经营总体稳定。 4月份，中国制造业采购经理指数为49%，较上月下降1.5个百分点。从重点行业看，新动能市场需求整体保持稳中有增势头，国内市场需求保 持较好增长。 4月份，高技术制造业采购经理指数为51.5%，明显高于制造业总体水平，延续较好发展态势。消费品制造业新订单指数也处于50%的临界点， 意味着消费品制造业国内市场需求较好释放。 从企业预期看，4月份，生产经营活动预期指数为52.1%，继续位于扩张区间。 国家统计局服务业调查中心企业景气处处长霍丽慧介绍，企 ...

Group 1 - The event organized by Hangzhou's Commerce Bureau aims to enhance vocational skills in the commercial service industry through competitions, promoting a culture of learning and skill development among workers [1] - The competition is part of Hangzhou's strategy to build an international consumption center, focusing on standardizing and upgrading service levels in the commercial sector [1] - A total of 36 individuals from various professions, including internet marketing, tea arts, and e-commerce, were recognized as technical models and skilled workers in the 2024 competition [1] Group 2 - Following the rise of the "Hangzhou Six Little Dragons," the city is poised for rapid development, with the Commerce Bureau collaborating with various departments to cultivate high-quality skilled talent through annual competitions [2] - The competitions are designed to establish a solid foundation for the growth of the commercial service industry in Hangzhou [2]

Economic Overview - In the first quarter of 2025, the GDP of Zhongshan reached 97.309 billion yuan, with a year-on-year growth of 4.2% [2] - The primary industry added value was 1.423 billion yuan, growing by 4.3%; the secondary industry added value was 47.405 billion yuan, growing by 5.1%; and the tertiary industry added value was 48.482 billion yuan, growing by 3.4% [2] Agricultural Sector - The total output value of agriculture, forestry, animal husbandry, and fishery was 3.233 billion yuan, increasing by 7.0% [2] - Agricultural output value reached 1.238 billion yuan, growing by 4.7%; total vegetable and edible fungus output was 99,300 tons, increasing by 4.1%; and total fruit output was 23,900 tons, growing by 6.8% [2] Industrial Production - The industrial added value above designated size grew by 5.6% year-on-year [3] - Manufacturing sector increased by 6.2%, while the electricity, heat, gas, and water production and supply sector decreased by 5.9% [3] - High-tech manufacturing grew by 14.3%, accounting for 18.0% of the industrial output [3] Service Sector - The added value of the service industry increased by 3.4% year-on-year [3] - Information transmission, software, and IT services grew by 9.0%, while leasing and business services increased by 7.5% [3] Fixed Asset Investment - Fixed asset investment decreased by 16.7% year-on-year [4] - Infrastructure investment fell by 23.5%, and real estate development investment decreased by 24.4% [4] Consumer Market - The total retail sales of consumer goods grew by 0.4% year-on-year [4] - Retail sales of home appliances and audio-visual equipment increased by 62.2%, while communication equipment sales grew by 56.5% [4] Price Levels and Income - The Consumer Price Index (CPI) increased by 0.1% year-on-year, with service prices down by 0.7% and consumer goods prices up by 0.5% [5] - The per capita disposable income reached 19,214 yuan, growing by 2.5% year-on-year [5]

Core Insights - The Eurozone's April services sector sentiment index is reported at 1.4, which is below the expected 2.2 and a revision from the previous value of 2.4 [1] Summary by Category - **Economic Indicators** - The services sector sentiment index for April is 1.4, indicating a decline in sentiment compared to expectations and previous values [1]

Core Insights - The service industry in Huai'an City has shown significant growth, with a value-added output of 74.022 billion yuan, representing a 7.7% increase, and a revenue growth of 23.3% in the regulated service sector, ranking second in the province [1] - The city focuses on three main industries: ecological culture and tourism, modern logistics, and modern commerce, driving high-quality economic development [1][7] Group 1: Cultural and Tourism Industry - In the first quarter, Huai'an's cultural and tourism industry experienced a strong start, receiving 11.372 million domestic and international visitors, a 12.9% increase, and generating total tourism revenue of 13.43 billion yuan, up 12.4% [2] - The city implemented various promotional activities, including the "Hi Tour Huai'an" campaign, offering discounts and issuing over 10 million yuan in tourism consumption vouchers [2] - Huai'an's cultural, sports, and entertainment sector saw a revenue growth of 19.8%, highlighting the sector's contribution to economic growth [2] Group 2: Modern Logistics - The modern logistics sector has become a key growth driver, with railway freight volume reaching 723,000 tons, a remarkable 87.9% increase, and inland port cargo throughput at 20.1305 million tons, up 11.29% [3] - The city has launched a plan to reduce logistics costs and improve efficiency, enhancing the business environment for logistics operations [3] - Huai'an has established 12 stable public-rail-water intermodal transport routes, fostering the development of smart port projects [3] Group 3: Modern Commerce - The modern commerce sector displayed robust growth, supported by the "Huai'an Consumption Expansion Action Plan," which stimulated consumer spending through various promotional activities [4] - The city organized events to promote local cuisine and participated in trade fairs, achieving a record high of nearly 20 million USD in intended transactions [4] - The "Happiness 666" promotional series successfully encouraged consumer spending in sectors like automotive and home appliances, generating over 800 million yuan in consumption [4] Group 4: Project Development - Project construction is a cornerstone of Huai'an's service industry development, with 16 service projects signed in the first quarter, including three with over 1 billion yuan in investment [5][6] - The city has optimized its business environment to facilitate project execution, achieving rapid project initiation and completion [6] - A total of 23 projects have been included in the provincial service industry key project list for 2025, with a planned total investment of 32.029 billion yuan [6] Group 5: Future Outlook - Huai'an aims to leverage the synergy of its three main industries to achieve a service industry value-added output exceeding 300 billion yuan for the year [7] - The city plans to enhance its cultural tourism brand, develop logistics hubs, and stimulate consumer activity to support its goal of becoming a modernized city in the northern Yangtze River Delta [7]

● 胡雨 谭丁豪 在陈雳看来，多项经济数据表现喜人的背后，折射出供给侧改革与扩大内需协同推进下产业结构的深度 调整，数字经济、生产性服务业等新动能正加速成长，新质生产力对经济的拉动作用已进入加速期。 陈雳认为，从出口产品结构看，一季度我国出口同比增长6.9%。其中，新能源乘用车厂商出口量同比 增长19.8%，集成电路一类的高技术产品出口数量同比增长22.0%，表明我国出口正从传统劳动密集型 产品向高技术、高附加值领域转型。从内需看，一季度社会消费品零售总额12.46万亿元，同比增长 4.6%，其中新能源乘用车零售242万辆，同比增长36.4%，新质生产力在一些领域驱动产业结构优化的 典型特征已经显现，并正在形成"供给创新-需求升级-供给再创新"的良性循环。 政策驱动也为新质生产力发展提供了必要支撑。数据显示，2025年中央财政制造业领域专项资金安排 118.78亿元、增长14.5%，科技创新和技术改造再贷款规模扩大至8000亿元至1万亿元。陈雳认为，从国 际比较角度看，我国高技术制造业增加值占GDP比重正在向德国等高端制造业大国靠近，但在研发投入 强度、核心技术自主率等方面仍有提升空间。 赋能传统产业"老树发 ...