Plate resumption: it is expected that the epidemic base effect will weaken in 22 years and return to the medium and long-term logic
Social zero: affected by the compensatory consumption after the epidemic, the retail sales in the whole year of 21 was high before and low after. In 2021, the retail sales of social consumer goods increased as a whole
Trends; In the first half of the year, due to the base, the growth rate was at a high level. After April, the scissors gap gradually narrowed, and the annual social zero growth rate was relatively stable.
It is expected that there will be some pressure affected by the base effect in the first and second quarters of 22 years, which will be alleviated in the second half of the year. The fluctuation of retail data in 22 years will be less than 21 years, and the overall industry growth center will return to the medium and long-term steady-state average speed level. Plate resumption: the consumption recovery of the epidemic situation and the Xinjiang cotton incident have excess returns
Throughout the year, the yield of the industry index was good. From the whole year's market, affected by the recovery of consumption after the epidemic and the Xinjiang cotton incident in April, the clothing index achieved good opportunities for excess return in the first half of the year, especially in the second quarter.
Relative to other industries: the growth of textile and garment sector in all industries is at the midstream level. Compared with history, it is a relatively good year for the industry.
