The equipment described in this report are primarily defined by its title since the title is generally long and includes most of the criteria used to differentiate the equipment from other similar equipment. The equipment descriptions are sourced from the U.S. Census. Additionally descriptions can be collected from the manufacturing industry descriptions that each equipment is categorized. The U.S. Census manufacturing industry descriptions for equipment are listed below

Equipment Type: Asphalt mineral-surfaced roll roofing and cap sheets, organic base This report covers the global forecast for asphalt mineral-surfaced roll roofing and cap sheets, organic base produced in the asphalt mineral-surfaced roll roofing and cap sheets, organic base industry.

短久期：政策托底预期下，以家居为首的顺周期企业存在反弹机会。经济存压下，地产相关政策成为绕不开的话题，因城施 策/智能家居普及/搁置房地产项目整治等方向均值得期待；无论实际效果如何，对于市值重回低位的家居企业而言，历史上 看政策出台前的朦胧期通常兼具胜率和赔率；同时对于同属顺周期的消费品（如文具、潮玩等），伴随疫后经济及消费信心 恢复，看好业绩渐进正轨并带来估值端修复。

2023 年1-5 月，中国家具及零件累计出口270.2 亿美元，同比-6.9%，单5 月出口53.8 亿美元，同比-14.4%，环比-11.0%。2023 年1-4 月，越南木材 及木制品累计出口38.6 亿美元，同比-31.3%，单4 月出口额10.5 亿美元， 同比-30.0%，环比-12.5%。2023 年1-5 月我国出口总额同比增长0.3%，单5 月出口同比-7.5%，环比-4.0%。

2023 年上半年，经济社会全面恢复常态化运行，国民经济总体呈现回升向好态势，但仍面临需求弱复苏、预期偏弱、海外环境扰动等压力，经济恢复的基础仍不稳固，外部因素对企业经营影响持续加深。开年以来，轻工制造业企业经营整体亦有序复苏，但同样面临不少挑战，我们观察到需求恢复不足是当下制约轻工板块企业经营及市场表现的核心变量:国内地产复苏偏弱、居民消费信心不足、外需仍然偏弱导致家居行业经营压力仍然存在，行业竞争继续加剧;全球经济疲软、消费意愿收缩向上游传导，也导致包装行业企业经营面临一定压力: 消费降级扰动、需求恢复不足也给轻工消费企业的经营带来不少挑战。