在全球外需冲击持续加剧的复杂背景下,我国促消费政策不断加码落地,居民收入水平稳步回升,消费信心也逐步增强。今年以来,消费复苏的节奏愈发清晰,呈现出明显的“前低后高”态势。据国家统计局数据显示,2025年3月社会消费品零售总额同比增长5.9%,增速较1-2月提升1.9个百分点,在前期政策的有力刺激下,消费市场持续稳步恢复。然而,国金证券研究所认为,相较于寄希望于“顺周期”的传统复苏传导路径,消费领域...
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