三個皮匠報告
政策庫
new
付費
搜索

美國歷史上核心經濟衰退年份較前一年消費分項占比變化：必選消費占比多邊際上升，可選消費占比多邊際下降-行業數據

美國歷史上核心經濟衰退年份較前一年消費分項占比變化：必選消費占比多邊際上升，可選消費占比多邊際下降
美國歷史上核心經濟衰退年份較前一年消費分項占比變化：必選消費占比多邊際上升，可選消費占比多邊際下降
David Johnson, Timothy Smeeding, and Jeffrey P. Thompson，德邦研究所 8 / 17 請務必閱讀正文之后的信息披露和法律聲明
行業數據 下載Excel 下載圖片 原圖定位
圖片屬性
圖片格式：PNG 圖片大?。?599KB 圖片尺寸：2339*1952
同報告圖片
 / 20
美國歷史上核心經濟衰退年份較前一年消費分項占比變化：必選消費占比多邊際上升，可選消費占比多邊際下降_第1頁
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
美國歷史上核心經濟衰退年份較前一年消費分項占比變化：必選消費占比多邊際上升，可選消費占比多邊際下降_第2頁
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
美國歷史上核心經濟衰退年份較前一年消費分項占比變化：必選消費占比多邊際上升，可選消費占比多邊際下降_第3頁
fCDnvo7lm73mnI3liqHkuJrpq5jpn6fmgKcgfCDmnKrov5vlhaXoobDpgIAgfCDov5vlhaXoobDpgIAgfAp8LS0tLS0tLS0tLS0tLS0tLS0tLS0tLXwtLS0tLS0tLS0tLS0tLS0tLS0tfC0tLS0tLS0tLS0tLS0tLS0tLS18Cnwg57G75rue5rao5Yay5Ye7ICAgICAgICAgICB8IOWfueiCsuKAnOS6sue+juKAneS+m+W6lOmTvuS9k+ezuyB8IOmHjeW7uuWItumAoOS4muWfuuehgCB8CnwgQUnliLbpgKAm5YWz56iO5pS25YWl5byl6KGlIHwg5aGr6KGl5Lit5Zu9562J5Zu95a6255qE5L6b57uZ57y65Y+jIHwg6ICD6JmR5raI6LS56ICF6LSt5Lmw5Yqb5LiL6ZmN5ZKM5raI6LS56ZmN57qn55qE546w5a6e5Zuw6Zq+IHw=
美國歷史上核心經濟衰退年份較前一年消費分項占比變化：必選消費占比多邊際上升，可選消費占比多邊際下降_第4頁
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
美國歷史上核心經濟衰退年份較前一年消費分項占比變化：必選消費占比多邊際上升，可選消費占比多邊際下降_第5頁
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
美國歷史上核心經濟衰退年份較前一年消費分項占比變化：必選消費占比多邊際上升，可選消費占比多邊際下降_第6頁
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
美國歷史上核心經濟衰退年份較前一年消費分項占比變化：必選消費占比多邊際上升，可選消費占比多邊際下降_第7頁
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
美國歷史上核心經濟衰退年份較前一年消費分項占比變化：必選消費占比多邊際上升，可選消費占比多邊際下降_第8頁
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
美國歷史上核心經濟衰退年份較前一年消費分項占比變化：必選消費占比多邊際上升，可選消費占比多邊際下降_第9頁
美國歷史上核心經濟衰退年份較前一年消費分項占比變化：必選消費占比多邊際上升，可選消費占比多邊際下降_第10頁
美國歷史上核心經濟衰退年份較前一年消費分項占比變化：必選消費占比多邊際上升，可選消費占比多邊際下降_第11頁
fOW5tOS7vXznvo7lm73lt6XkuJrmnLrlmajkurrlronoo4Xph4985ZCM5q+UfAp8LXwtfC18CnwyMDAxfDF8MjAlfAp8MjAwNHwxLjV8MzAlfAp8MjAwN3wxLjh8LTEwJXwKfDIwMTB8MC41fC02MCV8CnwyMDEzfDIuMnw1MCV8CnwyMDE2fDIuNXwyMCV8CnwyMDE5fDMuNXwtMTAlfAp8MjAyMnw0LjV8MjAlfAoK6LWE5paZ5p2l5rqQ77yaV2luZO+8jOW+t+mCpueglOeptuaJgA==
美國歷史上核心經濟衰退年份較前一年消費分項占比變化：必選消費占比多邊際上升，可選消費占比多邊際下降_第12頁
美國歷史上核心經濟衰退年份較前一年消費分項占比變化：必選消費占比多邊際上升，可選消費占比多邊際下降_第13頁
美國歷史上核心經濟衰退年份較前一年消費分項占比變化：必選消費占比多邊際上升，可選消費占比多邊際下降_第14頁
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
美國歷史上核心經濟衰退年份較前一年消費分項占比變化：必選消費占比多邊際上升，可選消費占比多邊際下降_第15頁
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
美國歷史上核心經濟衰退年份較前一年消費分項占比變化：必選消費占比多邊際上升，可選消費占比多邊際下降_第16頁
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
美國歷史上核心經濟衰退年份較前一年消費分項占比變化：必選消費占比多邊際上升，可選消費占比多邊際下降_第17頁
美國歷史上核心經濟衰退年份較前一年消費分項占比變化：必選消費占比多邊際上升，可選消費占比多邊際下降_第18頁
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
美國歷史上核心經濟衰退年份較前一年消費分項占比變化：必選消費占比多邊際上升，可選消費占比多邊際下降_第19頁
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
美國歷史上核心經濟衰退年份較前一年消費分項占比變化：必選消費占比多邊際上升，可選消費占比多邊際下降_第20頁
fCDml7bpl7QgICAgICAgfCBCb3R0b20gNjAlIHwgNjAlLTkwJSB8IFRvcCAxMCUgfAp8LS0tLS0tLS0tLS0tfC0tLS0tLS0tLS0tLS18LS0tLS0tLS0tLXwtLS0tLS0tLS0tfAp8IFExIDE5OTAgICAgfCAyNSUgICAgICAgICB8IDM1JSAgICAgIHwgNDAlICAgICAgfAp8IFExIDE5OTYgICAgfCAyNCUgICAgICAgICB8IDM0JSAgICAgIHwgNDIlICAgICAgfAp8IFExIDIwMDIgICAgfCAyMyUgICAgICAgICB8IDMzJSAgICAgIHwgNDQlICAgICAgfAp8IFExIDIwMDggICAgfCAyMiUgICAgICAgICB8IDMyJSAgICAgIHwgNDYlICAgICAgfAp8IFExIDIwMTQgICAgfCAyMSUgICAgICAgICB8IDMxJSAgICAgIHwgNDglICAgICAgfAp8IFExIDIwMjAgICAgfCAyMCUgICAgICAgICB8IDMwJSAgICAgIHwgNTAlICAgICAgfAp8IFExIDIwMjRQICAgfCAxOSUgICAgICAgICB8IDI5JSAgICAgIHwgNTElICAgICAgfAoK6LWE5paZ5p2l5rqQ77yaTW9vZHkncyBBbmFseXRpY3PvvIzlvrfpgqbnoJTnqbbmiYA=
美國歷史上核心經濟衰退年份較前一年消費分項占比變化：必選消費占比多邊際上升，可選消費占比多邊際下降_第21頁
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
所屬報告： 特朗普及關稅系列研究（三）：美國供需視角看關稅“棋局”新解-250421（17頁）.pdf
打包全文圖表

相關數據

最新數據
聯系我們
  • 0731-84720580
  • sgpjbg002
  • 工作日 9:30 - 18:00
關于我們
侵權處理
關于我們

三個皮匠報告專業的行業報告下載站，每日更新，歡迎大家關注！

copyright@2008-2013 長沙景略智創信息技術有限公司版權所有
網站備案/許可證號：湘B2-20190120

客服
商務合作
小程序
服務號
折疊
午夜网日韩中文字幕,日韩Av中文字幕久久,亚洲中文字幕在线一区二区,最新中文字幕在线视频网站