2019年党中央、国务院下发了《关于支持东北地区深化改革创新推动高质量发展的意见》，随着政策红利的释放，2019年前三季度鹤岗市经济保持稳步增长，文中从GDP、农业生产、规上工业、固定资产投资、社会消费品零售总额以及财政等多方面详细分析了鹤岗市的经济运行现状。但一些资源型城市共性问题仍然存在，“三偏”问题没有得到彻底解决。预计2020年鹤岗市的经济运行将继续保持平稳增长的态势。最后，提出促进鹤岗市经济高质量转型发展之路的对策建议。

Supply chain analytics targets to improve operational efficiency and effectiveness by enabling data-driven decisions at strategic, operational, and tactical levels. It incorporates virtually the complete value chain including sourcing, manufacturing, distribution, and logistics. Supply chain analytics helps in increasing productivity, reducing wastage, inventory forecasting, and to improve customer relationship. For the purpose of analysis, the global supply chain analytics market is segmented into component, deployment, enterprise size, industry vertical, and region. The report highlights various components available in the market, which include solution and services. According to enterprise size, the market is classified into large enterprises and SMEs.

统计局发布1-7 月社零、地产数据：1）社零方面，1-7 月社零、家具、文化办公用品、化妆品、线上社零增速分别比+20.7%、+26.7%、+21.7%、+23.4%、+21.9%；其中，7 月社零、家具、文化办公用品、化妆品、线上社零增速分别同比+8.5%、+11.0%、+14.8%、+2.8%、+7.4%。2）地产方面，1-7 月全国住宅新开工面积、竣工面积、销售面积、房地产开发投资完成额分别同比+0.4%、+27.2%、+22.7%、+14.9%；其中，7 月全国住宅新开工面积、竣工面积、销售面积、房地产开发投资完成额分别同比-21.5%、+28.8%、-9.5%、+4.3%。

据国家统计局，7 月基建（不含电力）/地产/制造业投资同比-10.1%/+1.2%/+9.1%，两年平均-1.7%/+6.4%/+2.8%。受台风雨水、疫情反复及资金因素影响，基建投资及地产新开工同比增速环比大幅回落，地产竣工维持强势，制造业和出口延续较高增长。我们认为：1）投资端增速环比回落，经济稳增长压力预期上升，7 月末政治局会议提出做好宏观政策跨周期调节，我们预计稳增长政策将有所加码，建议加大低估值建筑板块配置；2）浮法玻璃和玻纤延续高景气，继续推荐旗滨集团、中国巨石；部分消费建材标的估值跌至2018 年去杠杆时的低点，推荐坚朗五金、蒙娜丽莎、共创草坪。

受7 月部分地区强降雨及疫情反复的影响，社零数据环比有所放缓，但消费恢复态势不改。就业扩大、居民收入增加也有利于消费能力的提高，判断消费能够总体保持稳定恢复态势。虽近期消费各板块龙头回调幅度较大，但以高端白酒为代表的行业基本面持续向好，消费布局或正当时，建议采用积极策略。

In the early months of 2021, the world was faced with both promise and peril. On the positive side, the distribution of vaccines for COVID-19 was under way, offering the promise that, sometime later in the year, the negative impact of the virus could abate significantly. On the negative side, the virus continued to threaten economic stability, especially in those parts of the world where it was still prevalent and threatened to be a problem elsewhere if new and virulent strains of the virus were spread widely. Even in places where the outbreak was limited, there was a negative economic impact from social distancing measures to avoid a further outbreak. The challenge for policymakers was to control the current outbreak, protect those who have been disrupted by it, and speed up the distribution of approved vaccines. The speed and success of these three imperatives will determine the path of the global economy in the year ahead.

疫情制约消费修复速度。7 月社会消费品零售同比增速从12.1%降至8.5%，两年平均增速从4.9%降至3.5%，消费修复速度放缓。主要原因有两方面：一是江苏等地出现疫情，限制了消费场景，同时，疫情的反复也增加了人们对经济前景的担忧，从而降低消费意愿。二是河南等地出现强降雨，影响到人们消费。

2021 年7 月社零总额同比+8.5%，增速环比-3.6pcts，受疫情及汛情影响低于预期（+11.6%）；社零总额较2019 年7 月+7.2%，两年平均增速为3.6%、环比-1.3pcts，恢复进程受疫情、汛情冲击暂有所放缓。但从消费者信心指数来看，仍维持稳健（6、7 月分别121.8/122.8），近期疫情有所缓解，8 月上半月仍受冲击但下半月预计有所恢复，考虑基数，8 月社零增速预计还将环比放缓，但市场已有所预期。

国家统计局发布最新社会消费品零售数据。2021 年7 月份，社会消费品零售总额3.49 万亿元，同比名义增长8.5%（扣除价格因素实际增长6.4%）。其中，限额以上单位消费品零售额1.24 万亿元，同比增长8.5%；除汽车以外的消费品零售额为3.16 万亿元，同比增长9.7%。