金吾财讯 | 华泰证券表示，极端气候消退及基数提振下，预计8月经济数据呈现低位企稳，出口增速维持稳健、或带动工业增加值同比增速略修复，但台风洪涝等天气仍对生产及物流形成扰动。消费方面，暑期出行有所回暖、但汽车消费拖累走阔，社零同比增速或小幅回升。投资需求仍在筑底，地产销售降幅再度走阔。信贷方面，受传统资金密集型行业信贷需求收缩、直接融资替代效应深化等结构性调整影响，信贷结构持续面临压制，叠加政府债券发行同比收缩，社融增速预计边际回落，后续财政发力节奏仍是核心观察点。
金吾财讯 | 华泰证券表示，极端气候消退及基数提振下，预计8月经济数据呈现低位企稳，出口增速维持稳健、或带动工业增加值同比增速略修复，但台风洪涝等天气仍对生产及物流形成扰动。消费方面，暑期出行有所回暖、但汽车消费拖累走阔，社零同比增速或小幅回升。投资需求仍在筑底，地产销售降幅再度走阔。信贷方面，受传统资金密集型行业信贷需求收缩、直接融资替代效应深化等结构性调整影响，信贷结构持续面临压制，叠加政府债券发行同比收缩，社融增速预计边际回落，后续财政发力节奏仍是核心观察点。
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