ONS经济统计主管Liz McKeown指出，服务业和制造业产出的减少是导致4月份整体GDP下滑的主要原 因。她还提到，在过去的三个月里，尽管4月份的数据不佳，但总体GDP仍有所增长，这可能是因为一 些商业活动被提前到了年初完成。 此外，4月份法律和房地产行业的表现尤其疲软。这可能是由于在3月份印花税调整后，购房需求集中释 放，导致4月份的需求相对减弱。这种情况表明，短期经济波动有时会受到政策变动的影响，而这些影 响可能会导致某些行业出现周期性的起伏。 （文章来源：新华财经） 财政大臣Rachel Reeves 对这一数据表示失望，但同时强调其即将进行的支出审查计划将有助于推动经 济增长。 英国政府表示，将加大相关领域的政府投资，并以此带动私人投资，从而实现经济增长。未来五年内， 英国将投入156亿英镑，用于改善城市交通基础设施。将在今后几年内投资860亿英镑，用于加速推动英 国增长最快的行业，包括科技、生命科学、先进制造业和国防等。将投入1.87亿英镑，用于学生AI方面 的培训，其中的0.24亿英镑，将作为该项目的旗舰项目的投资，目的是让英国每所中学的学生有机会在 三年内获得新的人工智能技能。到2027年， ...

欧洲央行执委施纳贝尔：私人消费正在支撑经济增长。 ...

德国智库IFO：预计新政府措施今年将推动经济增长提高0.1个百分点，明年则将提升0.7个百分点。 ...

金十数据整理：每日全球外汇市场要闻速递（6月12日） 美元： 7. 特朗普：美联储应降息整整一个百分点。 非美主要货币： 2. 韩国央行行长李昌镛：过度降息和刺激措施可能导致房地产市场价格上涨，并增加外汇市场的波动 性。 1. 美国副总统万斯：美联储拒绝降息是货币政策失当行为。 2. 美国5月CPI数据全线低于预期，核心CPI仅增长0.1%。 3. 亿万富翁对冲基金经理Paul Tudor Jones：特朗普将会选择一位"非常鸽派"的美联储主席。 4. 美国财政部长贝森特将物价上涨放缓归功于特朗普的政策。 5. 美国财长贝森特：如果债务上限问题得不到解决，可能遭遇自2008-09年以来最大的危机。 6. 美国财长贝森特：愿意继续留任财政部长一职至2029年。 4. 法国央行：将2025年的经济增长预期从三月份的0.7%下调至0.6%。 5. 英国4月经济萎缩0.3%。 6. 欧洲央行管委卡扎克斯：达到2%的通胀率"很有可能"需要"进一步的降息微调"。 1. 日本首相石破茂：工资增长是应对通胀最有效的方式。与美国的关税谈判正在取得稳步进展。 2. 日本央行行长植田和男：国内金融状况仍然宽松。 3. 欧洲央行管委 ...

Core Insights - The UK Chancellor of the Exchequer, Reeves, expressed disappointment over the GDP data for the period of February to April, indicating a need for decisive action to stimulate economic growth [1] Economic Performance - The GDP data for February to April was described as "significantly disappointing," highlighting potential challenges in the UK economy [1] - The Chancellor's remarks suggest a focus on strategies to enhance economic performance in the near future [1]

英国财政大臣里夫斯：GDP数据"明显令人失望"。决心推动经济增长。 ...

Economic Growth - India's economy grew by 7.4% in Q1 2023, marking the highest quarterly growth in a year, up from 6.2% in the previous quarter [1] - The country is positioned to benefit from supply chain shifts due to US-China trade tensions, with May's new export orders reaching a three-year high [1][3] Manufacturing Sector - India's manufacturing PMI in May was 57.6, indicating strong expansion despite a slight month-on-month decline [2] - The automotive sector is also thriving, with vehicle exports projected to reach 5.36 million in FY 2024/25, a 19.2% increase from the previous year [6] Technology Transfer and Innovation - Over the past decade, India has successfully captured technology transfers across various sectors, including smartphones and pharmaceuticals, leading to significant industrial upgrades [3][4] - The country has transitioned from merely assembling products to developing local manufacturing capabilities, as evidenced by a rise in smartphone exports from $2.1 billion in 2018 to $11 billion in 2022 [4] Government Initiatives - The Indian government has implemented policies like "Make in India" and the Production-Linked Incentive (PLI) scheme to encourage local manufacturing and technology adoption [9][10] - These initiatives have bolstered foreign investment confidence and facilitated local enterprise participation in high-tech sectors [10] Workforce and Infrastructure - India's large population provides a significant labor force and consumer market, but challenges remain in literacy and labor participation rates, which are below 50% [21][22] - Infrastructure issues, such as inadequate roads and power supply, continue to hinder manufacturing growth [21][22] Future Outlook - India's economic growth is currently concentrated in urban and IT sectors, necessitating broader structural improvements in income and consumption to sustain long-term growth [22][23] - The country is at a pivotal point in the global manufacturing landscape, with the potential to become a major economic power if it continues to reform and upgrade its technological and human resources [23]

法国央行：预计2026年的经济增长将为1.0%（此前预估为1.2%），2027年则为1.2%（此前预估为 1.3%）。 ...

1. Report Industry Investment Rating No relevant content provided. 2. Core Viewpoints of the Report - Economic growth shows that steel has shifted to inventory accumulation, with seasonal recovery in power plant daily consumption and mixed trends in various industries' production and demand [2][3]. - Inflation indicates that the agricultural product price index is stronger than the same period last year, with weak pig prices in CPI and a continuous rebound in oil prices in PPI [4]. 3. Summary by Relevant Catalogs 3.1 Economic Growth: Steel Shifts to Inventory Accumulation 3.1.1 Production: Seasonal Recovery in Power Plant Daily Consumption - Power plant daily consumption has a seasonal recovery. On June 10, the average daily consumption of 6 major power - generating groups was 736,000 tons, up 1.4% from June 3; on June 6, the daily consumption of power plants in eight southern provinces was 1.718 million tons, up 1.6% from May 29 [5][12]. - The blast furnace operating rate has a mild decline. On June 6, the national blast furnace operating rate was 83.5%, down 0.3 percentage points from May 30; the capacity utilization rate was 90.6%, down 0.1 percentage points from May 30. However, the blast furnace operating rate of Tangshan steel mills was 95.2% on June 6, up 1.7 percentage points from May 30 [5][18]. - The tire operating rate has a second decline. On June 5, the operating rate of truck all - steel tires was 63.5%, down 1.3 percentage points from May 29; the operating rate of car semi - steel tires was 73.9%, down 4.4 percentage points from May 29. The loom operating rate in Jiangsu and Zhejiang has declined for two consecutive weeks [5][21]. 3.1.2 Demand: Steel Shifts to Inventory Accumulation - The property market sales show a continuous improvement trend month - on - month. From June 1 - 10, the average daily sales area of commercial housing in 30 large and medium - sized cities was 208,000 square meters, up 13.0% from the same period in May, but down compared with the same periods in previous years [5][25]. - The auto market retail is stable and strong. In June, retail sales increased by 19% year - on - year, and wholesale sales increased by 10% year - on - year [5][29]. - Steel prices have a limited rebound. On June 10, the prices of rebar, wire rod, hot - rolled coil, and cold - rolled coil increased by 0.6%, 0.8%, 0.6%, and 0.1% respectively compared with June 3. Steel has shifted to inventory accumulation, with the inventory of five major steel products reaching 935,900 tons on June 6, up 3,400 tons from May 30 [5][35]. - Cement prices have a partial rebound. On June 10, the national cement price index increased by 0.6% compared with June 3, with prices in East China and the Yangtze River region rising by 2.1% and 2.3% respectively [5][36]. - Glass prices have a slight rebound. On June 10, the active glass futures contract price was 996.0 yuan/ton, up 3.3% from June 3 [5][41]. - The container shipping freight rate index has a continuous upward trend. On June 6, the CCFI index increased by 3.3% compared with May 30, and the SCFI index increased by 8.1% [5][44]. 3.2 Inflation: Agricultural Product Price Index Stronger than the Same Period Last Year 3.2.1 CPI: Weak Pig Prices - Pig prices are running weakly. On June 10, the average wholesale price of pork was 20.3 yuan/kg, down 1.4% from June 3. The month - on - month price has turned down [5][52]. - The agricultural product price index is stronger than the same period last year. On June 10, the agricultural product wholesale price index decreased by 0.6% compared with June 3. Different agricultural products have different price trends [5][57]. 3.2.2 PPI: Continuous Rebound in Oil Prices - Oil prices have a continuous rebound. On June 10, the spot prices of Brent and WTI crude oil were 69.9 and 65.0 dollars/barrel respectively, up 2.6% and 2.5% respectively from the previous week [5][60]. - Copper and aluminum prices have increased. On June 10, the LME 3 - month copper and aluminum prices increased by 1.9% and 1.2% respectively compared with June 3. The decline in the domestic commodity index month - on - month has narrowed [5][64]. - Industrial product prices have generally weakened. Since June, most industrial product prices have shown a year - on - year decline, with the decline in coking coal and coke prices being more prominent [66].

金十数据6月11日讯，Annex Wealth Management首席经济学家Brian Jacobsen表示，本次CPI数据远较预 期温和。部分进口食品价格涨幅明显，如香蕉价格上涨3.3%，玩具价格上涨2.2%，但鸡蛋价格却出现 2.7%价格下跌。贸易政策若能稍趋稳定，将极大有助于避免通胀失控。这也再次证明，为何美联储可 能将风险关注重点从通胀威胁转向经济增长威胁。 经济学家：CPI较预期温和上涨 进口食品价格涨幅明显 ...