Meso boom highlights: the boom of consumer goods continued to improve, and lithium batteries and semiconductors maintained a high boom
Consumption sector: business continuity and improvement, Baijiu price rise, recovery is in progress.
Marginal improvement: Baijiu season is approaching intensive price increases, and Moutai’s unpacking order is cancelled. Since late November, Baijiu boom has come along with the peak season, and Baijiu brand has been increasing price, which has helped the economy to turn warmer. However, Maotai was affected by the cancellation of the unpacking order, the original price continued to weaken, and the price difference with bulk bottles tended to narrow.
Marginal improvement: driven by cost, the seasoning ex factory index continued to rise year-on-year. The intensive price increase of condiments since October is more driven by the cost driven. In the process of transmission from PPI to CPI, the price rise tide may continue further.
Marginal improvement: Although the whole vehicle continues to fall year-on-year, the industry is in the process of recovery. In the second half of last year, the low terminal inventory caused by the superposition of high base and lack of core continued to decline year-on-year; However, with the release of production capacity driven by the easing of core shortage, the automotive industry is in the process of recovery.
Marginal improvement: both textile and clothing improved year-on-year and month on month. In November, the year-on-year decline of textile and garment retail sales narrowed and increased significantly month on month; First, benefit from the double 11 drive; Second, the cooling in winter and the demand for ice and snow sportswear drive the recovery of the economy.
Growth sector: lithium batteries and semiconductors are still booming; LCD panel decline narrowed
Ultra high prosperity: the prosperity of lithium battery and semiconductor continues to rise. In the lithium battery industry chain, the sales volume of new energy vehicles and battery installed capacity continued to rise year-on-year in November, and the high prosperity pattern continued driven by strong demand; Semiconductor, in November, the year-on-year growth rate of semiconductor equipment shipments in North America continued to expand, and the high boom continued.
Marginal improvement: the installed capacity of photovoltaic and wind power increased in November, and the boom rose. For photovoltaic, the installed capacity in November exceeded expectations, and increased significantly year-on-year and month on month. First, the upstream silicon wafer continued to reduce prices, and second, the subsidy was approaching the last month, and the installed boom was rising. For wind power, the new installed capacity narrowed year-on-year in November, but increased by 100% month on month, and the boom increased.
Marginal change: the decline of LCD panel narrowed. In November, the price of 55 inch LCD TV panel fell to $134 / piece, supported by European and American demand, and the decline narrowed.
Marginal pressure: MLCC market marginal pressure. The year-on-year growth rate further narrowed and fell month on month.
