【中信期货】海外经济图观-250629（33页）.pdf

1、Investment consulting business qualification:CSRC License 2012 No.669投资咨询业务资格：证监许可【2012】669号Important Notice:This report is not a service under the futures trading consulting business.The opinions and information provided are for reference only and do not constitute investment advice to anyone.CITIC

2、 Futures do not consider relevant personnel as client due to the attention,receipt,or reading of this report重要提示：重要提示：本报告非期货交易咨询业务项下服务，其中的观点和信息仅作参考之用，不构成对任何人的投资建议。我司不会因为关注、收到或阅读本报告内容而视相关人员为客户；市场有风险，投资需谨慎。More English Reports on【CITIC Futures International Service Platform】https:/Global Economic Watc

3、h海外经济图观海外经济图观2025/06/29Jiang Jing姜婧姜婧CFAQualification No.F3018552从业资格号Investment consulting No.Z0013315投资咨询号Gui Chenxi桂晨曦桂晨曦CFA PhDQualification No.F3023159从业资格号Investment consulting No.Z0013632投资咨询号Haoyun Zhang张皓云张皓云Qualification No.F03114820从业资格号Investment consulting No.Z0022427投资咨询号目录目录CONTENTEur

4、ope欧欧 洲洲Asia亚亚 太太0301World全全 球球02US美美 国国0405Others其其 他他Risks：Policy changes,geopolitical events风险提示：风险提示：政策变动、地缘事件01World全全 球球This report is not a service under the futures trading consulting business.The opinions and information provided are for reference only and do not constitute investment advic

5、e to anyone.CITIC Futures do not consider relevant personnel as client due to the attention,receipt,or reading of this report本报告非期货交易咨询业务项下服务，其中的观点和信息仅作参考之用，不构成对任何人的投资建议。我司不会因为关注、收到或阅读本报告内容而视相关人员为客户；市场有风险，投资需谨慎。31.1 Global Composite PMI全球综合全球综合PMIPMIGlobal Composite PMI全球综合PMISource:Bloomberg Refini

6、tiv Wind FRED CITIC FuturesComposite PMI综合PMI综合PMI2025-052025-042025-032025-022025-012024-122024-112024-102024-092024-082024-072024-06Global全球全球51.250.85251.551.853.852.452.35252.852.552.9Emerging Market新兴市场新兴市场50.95252.652.451.952.452.952.551.252.152.453.3Developed Market 发达市场发达市场51.450.151.85151.7