德意志银行：2024年工业分析报告—周期性困扰（英文版）（22页）

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报告摘要

2August2024Chartoftheweek:largePLCmarketinChinastilltrendingdownThenarrativefortheindustrialsectorischangingquickly.BothjobsdataandUSmanufacturingPMIindexcameweakerthanexpectedinJulyraisingconcernsthattheFedwillcutinterestratestoolatetoavoidaslowdown.Meanwhile,ChineseandEuropeanstatscontinuetodisappoint.Specifically,thelong-awaitedrecoveryfortheautomationmarketappearstobefurtherpushedouttotherightasourChartoftheWeekshowsthatChinaslargePLCmarket(akeysegmentforSiemensDigitalIndustries)deteriorated...