南华宏观研究团队周度报告：从经济数据看政策基调

01 19 2023GDP GDP1260582 5.2% GDP5% 2023 2024 2024 1......................................................................................1 2...................................................................................4 3..............................................................................................7 4..............................................................................................8 1.1 GDP 5.2% % .........................................................................1 1.2 %...................................................2 1.1 %..............2 1.3 %...................................................3 2.1 ...........................................................................................4 2.2 ...........................................................................................5 3.1 .....................................................................................................7 3.2 ..............................................................................................7 3.3 ..............................................................................................7 4.1 ...................................................................................8 2023 CPI CPI 2023 CPI2023 CPI 12 1. 2023GDPGDP1260582 5.2%3 5%101 3880048800 3%3.8%12PSL GDP5% 1.1GDP 5.2%% 20.00 15.00 10.00 5.00 0.00 -5.00 :GDP: 2018-06 2018-09 2018-12 2019-03 2019-06 2019-09 2019-12 2020-03 2020-06 2020-09 2020-12 2021-03 2021-06 2021-09 2021-12 2022-03 2022-06 2022-09 2022-12 2023-03 2023-06 2023-09 2023-12 -10.00 : Wind 2023 1.2 % 15.00 10.00 5.00 0.00 -5.00 -10.00 -15.00 2020-03 2020-05 2020-07 2020-09 2020-11 2021-01 2021-03 2021-05 2021-07 2021-09 2021-11 2022-01 2022-03 2022-05 2022-07 2022-09 2022-11 2023-01 2023-03 2023-05 2023-07 2023-09 2023-11 -20.00 :20212023 :20212023 Wind 1.1 % 2023-112023-102023-092023-082023-072023-062023-052023-04 �口 Wind 1.3 83.00 81.00 79.00 77.00 75.00 73.00 71.00 69.00 67.00 65.00 Wind 2017-12 2018-03 2018-06 2018-09 2018-12 2019-03 2019-06 2019-09 : 2019-12 2020-03 % 2020-06 2024 2020-09 2020-12 2021-03 2021-06 2021-09 2024 2021-12 2022-03 2024 2022-06 2022-09 01 2022-12 2023-03 19 3 2023-06 2023-09 2. 2.1 115 15 MLF 65% PSL 2.1 1 5 10 1 2 3 2.50% 9950 1 MLF 1 22023GDP1260582 5.2% 3 12 7.4% 22 2.2 2.2 2% 1 2 3 1 -43.7 1 5 2020 2 12 3 0.6% 50% 3 113 2022924 18.7 2024 1 2 3 1 2 72 3 4 YahiaSinouar 5 6 7 3. 3.1 iFinD 3.2 iFinD 3.3 iFinD 2021.01.19 ifindwind 4. 4.1 20240119 / 136 310008 4008888910 www.nanhua.net 603093