2026-07-27 12:45

English summary

Summarize for me: 国金宏观: High-frequency data review for the fourth week of July. # Travel and consumption: In the fourth week of July, travel improved marginally while goods consumption was weak. Domestic flight departures were up 1.4% YoY (previous: -0.4%). From July 1-19, national passenger vehicle retail sales fell 16% YoY. In the first half of July, home appliance sales were -21.7% YoY. # Production and construction: In the fourth week of July, production and demand slightly declined. Asphalt operating rate was 21.3% (previous: 20.4%); PTA operating rate and semi-steel tire operating rate rose by 2.2 and 4.7 percentage points, respectively. Apparent consumption of seven types of steel was 9.56 million tons (previous: 9.80 million tons). # Real estate: In the fourth week of July, new home transaction area and second-hand home prices fluctuated. The average daily transaction area of commercial housing in 30 major cities was 206,000 square meters, -7.1% YoY. Shenzhen quoted price index fell 0.5 points, Beijing quoted price index rose 0.6 points. # Import/export: In the fourth week of July, export freight indices CCFI and SCFI both fell 0.5% WoW. …