投研服务|消费的区域分化与政策空间

爱债东方FICC
15 Jan

研究结论2024年消费区域表现分化,河南、湖南、山东等地今年消费增速靠前,海南、天津、青海、上海、北京承压最为明显。但东方证券研究所认为有两点需要注意:一是消费的区域格局变化没有想象中那么大。在体量不断扩大后,北京、上海、天津已经不是高消费增速的地区;二是相比城市等级、人均收入等因素,2024年消费的增长表现呈现与工业、制造业相关性更强的特征。如何看待未来服务消费的增长空间与波动风险?东方证券...

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