Group 1 - The core viewpoint of the article indicates that Russia's GDP growth rate for the period from January to May 2025 is projected at 1.5% according to the Ministry of Economic Development of Russia [1] - In May 2025, Russia's GDP growth was recorded at 1.2%, down from 1.9% in April 2025 [1] - The Ministry of Economic Development has maintained its annual GDP growth forecast for Russia at 2.5% for the year 2025 [1]

Core Viewpoint - Despite facing US tariff threats, private sector economists expect the Philippines' economic growth to accelerate to 5.6% in the second quarter, primarily driven by strong household consumption during the midterm elections [1] Group 1: Economic Growth Projections - HSBC ASEAN economist Aris Dacanay noted that spending related to the May midterm elections boosted household and government consumption, although this growth rate remains below the Philippines' economic potential [1] - Emilio Neri, Senior Vice President of Bank of the Philippine Islands, raised the growth forecast to 5.8%, citing election spending, easing inflation (especially the continuous decline in rice prices), and growth in consumer loans as supporting factors for household consumption [1] Group 2: Contributing Factors to Growth - Economists generally agree that improved employment data and a narrowing trade deficit have also contributed to economic growth [1] - Despite external risks, most institutions maintain their full-year economic growth forecast between 5.5% and 6% [1] Group 3: Risks and Challenges - The delayed implementation of US tariff policies may lead to a decline in subsequent exports [1] - Recent typhoons have impacted production and infrastructure, and the high 19% US tariff could pose downward pressure on growth [1]

截至 6 月，高盛 proprietary 的广义财政赤字（AFD）指标按 12 个月移动平均计算为 GDP 的 11.3%（2024 年为 10.6%），这表明今年以来财政政策已成为温和的增长推动力，而去年则是增长拖 累。 香港时间8月6日下午，高盛发布亚洲宏观经济研究指出，鉴于今年迄今为止出口增长强于预期，以及当 前 "被动应对式"（而非 "先发制人式"）的宽松模式，中国的政策宽松一直是适度、有针对性且具有耐 心的。 7 月政治局会议表明，刺激的紧迫性有所下降，但高盛认为，若增长阻力加大，政策制定者仍为进一步 的宽松举措留有空间。 在这份报告中，高盛回顾了中国上半年的财政状况，评估了下半年可用的财政空间，重新审视今年剩余 时间的财政政策展望，并更新高盛对固定资产投资（FAI）的预测。 部分预算外融资渠道持续疲软 与去年相比，上半年财政状况有所改善 得益于去年年底推出的 10 万亿元地方政府债务化解计划以及今年的扩张性预算，中国的财政状况显著 改善。上半年，预算内财政支出同比增长 3.4%，持续高于财政收入（上半年同比下降 0.3%）。受土地 出让收入下滑的拖累，政府性基金收入依然低迷，今年上半年同比进一步 ...

（原标题：上半年吉GDP增长11.7%） 据吉尔吉斯斯坦塔扎别克新闻网7月15日报道，吉国家统计委主席巴克特别克在新闻发布会上表 示，据初步估算，今年1-6月，吉国内生产总值达7110亿索姆（约合81.7亿美元），较去年同期增长 11.7%。 巴强调，制造业、服务业和税收的增长推动GDP实现增长。统计期内，吉工业产值达3130亿索姆 （约合35.9亿美元），同比增长10.2％。其中，药品、食品饮料和烟草制品、木材及纸张加工、橡胶及 塑料制品、建筑材料、精炼石油产品、矿产品等产值增长明显。 ...

产业方面，制造业、农林渔、批发零售和维修、建筑业、采矿业等五大行业是印尼经济的支柱，合计贡 献了二季度GDP的63.59%。其中，制造业占比最高，为18.67%，同比增长5.68%。 第二季度GDP增长5.12%，这一数据是印尼自2023年二季度以来的最高水平，超出市场预期。分析认 为，这主要源于内部投资和外贸的双向拉动。据印尼投资与下游化部统计，今年第二季度，印尼实际投 资额达477.7万亿印尼盾，同比增长11.5%；外部方面，6月印尼出口同比增长11.29%，延续了二季度的 积极态势。此外，二季度政府支出环比上涨21.05%，下降速度放缓，也对GDP增长构成支撑。 新华财经雅加达8月5日电（记者冯钰林）印度尼西亚中央统计局5日宣布，2025年第二季度，印尼国内 生产总值（GDP）同比增长5.12%，高于一季度的4.87%。按现行价格计算，二季度印尼GDP为5947万 亿印尼盾。 尽管面临美国关税等风险挑战，印尼政府仍努力将2025年GDP增速维持在5%左右。 （文章来源：新华财经） ...

Core Viewpoint - The GDP of Futian District in Shenzhen reached 295.315 billion yuan in the first half of the year, reflecting a year-on-year growth of 7.9% [1] Economic Performance - The financial sector in the district experienced rapid growth, with an added value increasing by 16.0% year-on-year [1] - Market sales showed positive trends, particularly in essential consumer goods, which remained stable overall [1] Retail Sector Insights - Retail sales of daily necessities in above-designated size enterprises grew by 5.3% [1] - Categories related to trade-in programs saw significant growth, with retail sales of household appliances and audio-visual equipment increasing by 38.2%, and cultural and office supplies rising by 63.3% [1]

Core Viewpoint - Moody's analysis indicates that Indonesia's GDP growth is expected to slow from 4.9% in the first quarter to 4.6% year-on-year in the second quarter, marking the weakest result since September 2021 [1] Economic Outlook - The anticipated GDP growth of 4.6% will be the lowest since the economic contraction caused by COVID-19 lockdowns in September 2021 [1] - Moody's forecasts a GDP growth of 4.7% for 2025, which is below the government's target of 5% [1] Contributing Factors - Global trade tensions are likely to exert pressure on exports [1] - Declining consumer confidence, slowing industrial activity, and high unemployment rates are expected to weigh on domestic economic performance [1] Upcoming Data - GDP data is scheduled to be released on Tuesday [1]

Core Insights - Zimbabwe's GDP reached 335 billion Zimbabwean dollars in Q1 2025, up from 299 billion in Q4 2024, driven by growth in agriculture, electricity, information communication, and financial insurance sectors [1] Sector Performance - Agriculture grew by 18.8%, electricity by 6.1%, and both information communication and financial insurance sectors increased by 4.3% [1] - Conversely, mining, accommodation and food services, and water supply sectors saw declines of 21.6%, 24.1%, and 12.3% respectively [1] Contribution to GDP - Manufacturing was the largest contributor to GDP in this quarter, accounting for 15%, followed by mining at 12.4%, agriculture at 11.7%, wholesale and retail at 11.6%, and financial insurance at 11.2% [1]

Economic Growth - Côte d'Ivoire's GDP reached 11.95 trillion CFA francs (approximately 21 billion USD) in Q1 2025, reflecting a year-on-year growth of 8.5% [1] - The primary sector grew by 4.3%, contributing 0.6 percentage points to overall economic growth, with notable increases in fisheries, agricultural exports, agricultural services, and livestock [1] - The secondary sector experienced a growth of 7.5%, contributing 1.7 percentage points, particularly driven by significant growth in mining and oil and gas extraction [1] - The tertiary sector remained the main driver of economic growth, with a year-on-year increase of 7.7%, contributing 4.1 percentage points, with vibrant industries including finance and insurance, information and communication, trade, and repair services [1] Tax Revenue - Tax revenue in Côte d'Ivoire increased by 20.9% year-on-year in Q1 2025, indicating strong fiscal performance [1]

Economic Performance - Zhuhai's GDP for the first half of the year reached 224.365 billion yuan, with a year-on-year growth of 3.8% [1] - The primary industry added value was 3.004 billion yuan, growing by 3.7%; the secondary industry decreased by 1.3% to 91.755 billion yuan; the tertiary industry increased by 7.4% to 129.606 billion yuan [1] Industrial Growth - The industrial output value above designated size in Zhuhai grew by 5.5% year-on-year, with an increase of 0.7 percentage points compared to the first quarter [1] - The "4+3" industries saw an increase of 7.2%, with high-end equipment manufacturing, integrated circuits, new energy, and new generation information technology growing by 17.9%, 16.4%, 16.0%, and 15.2% respectively [1] Service Sector - The service sector's added value increased by 7.4%, with information transmission software and IT services growing by 12.1% and leasing and business services by 10.7% [2] - From January to May, the revenue of the service sector above designated size reached 69.681 billion yuan, a year-on-year increase of 10.7% [2] Consumer Market - The total retail sales of social consumer goods in Zhuhai reached 46.946 billion yuan, growing by 5.0% year-on-year [2] - Retail sales of daily necessities increased by 9.3%, with home appliances and audio-visual equipment sales growing by 40.9% and communication equipment by 131.9% [2] Foreign Trade - Zhuhai's total import and export volume reached 168.265 billion yuan, a year-on-year increase of 8.9%, marking a historical high for the same period [2] - Exports totaled 115.417 billion yuan, growing by 4.7%, while imports increased by 19.5% to 52.848 billion yuan [2] Investment Trends - Fixed asset investment in Zhuhai decreased by 38.4% year-on-year, with industrial investment down by 28.0% [3] - Industrial technological transformation investment grew by 10.3%, while infrastructure investment fell by 40.6% and real estate development investment decreased by 42.1% [3] Agricultural Developments - The primary industry saw a year-on-year growth of 4.9%, with fishery output valued at 5.072 billion yuan, accounting for 76.9% of the total agricultural output [3] - Notable projects include the establishment of the first modern marine ranch in the country and the launch of the world's first deep-sea aquaculture vessel [3]