?????????????????????????

2018-01-0412:16

???????9?PMI?????????6???????????????????????????????????????????????????????????9?????????62.7%???62.7%???62.7%??????????????????????????????????????????????????????????8?PPI??-0.1%???0.2%???0%?????????????????????????????????????????????50%?????????????????????????????????

???????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????2016?10?????????????????????????????0.09%?

????11?11??2018??????????????????????????????????69????????????-20??????????????????????????????????????????????????????????????4%????????????????????9???????62.7%?????????????????????????????????????????????????????????????95.61?????????????????????????????1201.01??/???10???????????????????????????2?????????0.4bp?2.897%?

????????????????????????????????????????????????????????????????8?CPI??2.7%???CPI??2.2%?????????9????3.7%???????????1969??????????????????????????????????????????????????????????????????????????????????

??????????????????T????????????9?PMI?????????6??????????????????????????????????????????????????????????????????????????????????????????8?PCE????????????????PCE??????????????????????????????????????????????????50%?????????????????????????????????

??9?????????????????100.1???100.6???100.8???????????9?????????34.5?????34.5?????34.5???????????PMI?5??????4?1???????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????

????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????7?CPI????2.9%??2012?2?????????CPI????2.4%??2017?1??????????????????????????????????????????????????????????????????????????????

GDP??????????GDP????????4.2%???4%???4.1%??2014????????????PCE????????????????2%??????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????8????????????2.8%???2.8%???2.9%????????????????????????????????????????????????????????8???PCE????????2%???2%???2%???8???PCE????????0%???0.1%???0.2%?????????????8???27.24??????????????????73????2.8??

???????????????????????????????????????????????????????????????????????????????????????????????????9??????3.7%???3.8%???3.9%???9?????????62.7%???62.7%???62.7%?????????????????????????????1.8??????????????2.6??????????????????????????5.4??????????-1.7??????????????????????????????????????????????????????????????????????????????????

??????????7?CPI????2.9%??2012?2?????????CPI????2.4%??2017?1?????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????1.?????????2.??????3.??????????4.?????5.??????6.??????7.????????8.????????9.?????????10.?????????11.????????12.????????13.????????14.??????????15.????????16.????17.??????????18.?????????????19.??????????20.???????????21.???????22.???????23.?????"???"24.??????????????????1.?????????2.???????3.?????????4.???????5.?????????6.???????????7.????????8.???????9.???????????10.????????11.???????12.???????13.???????????14.?????????15.????????16.??????????17.???????????18.???????????19.???????????20.???????21.????????22.????????23.????"??"24.??????????25.?????8????????????1.??????????2.????????3.????????4.???????????5.?????????6.????????????7.????????8.??????????9.????????10.??????????11.????????12.???????????13.??????14.????????15.??????????????16.??????17.????????????????1.????????2.??????3.?????????4.???????????5.?????????6.????????7.?????????8.????????9.????????10.????????11.???????12.?????????13.???????14.?????????15.??????????16.??????????17.?????10???18.?????????19.?????????20.????????21.???????????22.?????????????????????1.????????2.????????3.??????????4.??????????5.??????????6.???????????7.?????????8.??????????9.?????????10.????"??"?11.????12.??????????13.???????14.??????????15.???????16.????????17.?????????18.???????19.???????20.??????????21.??????????22.?????????23.??????????24.???????????25.???????26.???????????????????1.???????2.?????????3.????????????4.????????????5.???????????6.????????7.??????8.???????9.????????10.???????11.???????12.??????????13.?????????14.??????15.???????????????????????????8??????????????8?PPI??????????????????????????

???????????8?CPI??2.7%???CPI??2.2%?????????????????????9???????62.7%???????????????????????????????????????????????????????????????????????????????????????1.8??????????????2.6??????????????????????????5.4??????????-1.7????????????????????????????????????

????????????9?????????????12.1?????18?????20.4?????25.4?????????????????????9???????62.7%????????????????9??????????????????????????????GDP??????????GDP????????4.2%???4%???4.1%??2014????????

?????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????2018?9????????????????????????????????????????????????????????????9??????3.7%???3.8%???3.9%???????????????????????????9?????????????????????2%-2.25%???????????????????

???????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????GDP?????????????????????8?PCE?????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????12.1???????????????1.3?????????????????????????

??????????????????????????????T????????????????????????PMI???????????????????????????PMI??4.4?????63.4%??????????????????????????????????????????????????????????????

?????????????GDP?????????????????????8?PCE??????????????????3????????????????????????????????????????????????????????????????????????????????????????????????????0.09%????????????????????????????????????????????????????????????????9????????????1.8?????1.5?????-0.3?????0.5???

??????????????????????????????2018?9????????????????????????????????????????????????????????????????????????????????????????????????9???????????????????????????????????????????????????9??????????????????????????????????????????????????????????????1.8??????????????2.6??????????????????????????5.4??????????-1.7?????????????????????????????????????????????????KT??????????????

????????????????9???????3.7%???????????1969???????????????????????????????????????????????2018?9????????????????????????????????????????????????????????????9??????????????????????????

??9?????????13.4???????????????12.1?????????????1.3?????2017?3??????????????????????????????????????????????????????????????????????????????????????????????????????????????????9????????????2017?3??????????????????????????????????????????????????????????????????????????????????????????????????????????????????????8????????????2.8%???2.8%???2.9%??????????????????????????????????????????????????????????????????

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