{"id":10123,"date":"2026-08-17T15:33:22","date_gmt":"2026-08-17T07:33:22","guid":{"rendered":"https:\/\/www.ycnkyy.com\/?p=10123"},"modified":"2026-08-17T15:33:25","modified_gmt":"2026-08-17T07:33:25","slug":"%e9%80%9a%e8%83%80%e6%b6%88%e8%b4%b9%e5%8f%8c%e9%99%8d%e6%b8%a9%e9%87%8d%e5%a1%91%e6%94%bf%e7%ad%96%e9%a2%84%e6%9c%9f%ef%bc%8c%e8%b5%84%e4%ba%a7%e5%ae%9a%e4%bb%b7%e8%bf%9b%e5%85%a5%e5%8f%8c%e5%90%91","status":"publish","type":"post","link":"https:\/\/www.ycnkyy.com\/vi\/luu-tru\/10123","title":{"rendered":"\u901a\u80c0\u6d88\u8d39\u53cc\u964d\u6e29\u91cd\u5851\u653f\u7b56\u9884\u671f\uff0c\u8d44\u4ea7\u5b9a\u4ef7\u8fdb\u5165\u53cc\u5411\u535a\u5f08\u9636\u6bb5"},"content":{"rendered":"

Tu\u1ea7n n\u00e0y, Hoa K\u1ef3 c\u00f4ng b\u1ed1 m\u1ea1nh m\u1ebd c\u00e1c d\u1eef li\u1ec7u kinh t\u1ebf c\u1ed1t l\u00f5i nh\u01b0 CPI th\u00e1ng 7, PPI, doanh s\u1ed1 b\u00e1n l\u1ebb v\u00e0 s\u1ed1 \u0111\u01a1n xin tr\u1ee3 c\u1ea5p th\u1ea5t nghi\u1ec7p l\u1ea7n \u0111\u1ea7u h\u00e0ng tu\u1ea7n, c\u00f9ng v\u1edbi tuy\u00ean b\u1ed1 c\u1ee7a nhi\u1ec1u quan ch\u1ee9c C\u1ee5c D\u1ef1 tr\u1eef Li\u00ean bang v\u00e0 vi\u1ec7c tri\u1ec3n khai ngu\u1ed3n cung tr\u00e1i phi\u1ebfu c\u1ee7a Hoa K\u1ef3, k\u1ef3 v\u1ecdng c\u1ee7a th\u1ecb tr\u01b0\u1eddng v\u1ec1 \u0111\u01b0\u1eddng l\u1ed1i ch\u00ednh s\u00e1ch \u0111\u00e3 nhanh ch\u00f3ng \u0111\u01b0\u1ee3c x\u00e2y d\u1ef1ng l\u1ea1i. CD Markets d\u1ef1a v\u00e0o h\u1ec7 th\u1ed1ng theo d\u00f5i d\u1eef li\u1ec7u v\u0129 m\u00f4 to\u00e0n c\u1ea7u, m\u00f4 h\u00ecnh ch\u1ee9c n\u0103ng ph\u1ea3n h\u1ed3i ch\u00ednh s\u00e1ch c\u1ee7a C\u1ee5c D\u1ef1 tr\u1eef Li\u00ean bang v\u00e0 khung \u0111\u1ecbnh gi\u00e1 li\u00ean k\u1ebft c\u1ee7a c\u00e1c t\u00e0i s\u1ea3n quy m\u00f4 l\u1edbn \u0111\u1ec3 ti\u1ebfn h\u00e0nh x\u00e1c th\u1ef1c ch\u00e9o to\u00e0n chu\u1ed7i v\u1ec1 c\u1ea5u tr\u00fac l\u1ea1m ph\u00e1t, \u0111\u00e0 ti\u00eau d\u00f9ng, s\u1ef1 kh\u00e1c bi\u1ec7t v\u1ec1 ch\u00ednh s\u00e1ch v\u00e0 truy\u1ec1n t\u1ea3i t\u00e0i s\u1ea3n, th\u00e2m nh\u1eadp v\u00e0o di\u1ec5n gi\u1ea3i c\u1ea3m x\u00fac c\u1ee7a d\u1eef li\u1ec7u th\u1ecb tr\u01b0\u1eddng \u0111\u01a1n l\u1ebb v\u00e0 h\u00ecnh th\u00e0nh ph\u00e1n \u0111o\u00e1n xu h\u01b0\u1edbng nhi\u1ec1u l\u1edbp h\u01a1n.<\/p>\n

<\/a>Ph\u00e2n t\u00edch to\u00e0n c\u1ea3nh d\u1eef li\u1ec7u kinh t\u1ebf th\u00e1ng 7: L\u1ea1m ph\u00e1t gi\u1ea3m nh\u1eb9, ti\u00eau d\u00f9ng y\u1ebfu g\u00e2y b\u1ea5t \u1ed5n ng\u1eafn h\u1ea1n<\/strong><\/p>\n

<\/a>M\u1eb7t l\u1ea1m ph\u00e1t: \u00e1p l\u1ef1c t\u1ed5ng th\u1ec3 gi\u1ea3m b\u1edbt, \u0111\u1ed9 d\u00ednh c\u01a1 b\u1ea3n v\u1eabn c\u00f2n<\/strong><\/p>\n

7 \u6708\u901a\u80c0\u6570\u636e\u8fde\u7eed\u91ca\u653e\u964d\u6e29\u4fe1\u53f7\uff1aCPI \u540c\u6bd4\u8fdb\u4e00\u6b65\u56de\u843d\u81f3 3.4%\uff0cPPI \u540c\u6bd4\u5f55\u5f97 4.7%\u3001\u521b 3 \u6708\u4ee5\u6765\u65b0\u4f4e\uff0c\u4e24\u8005\u5747\u4f4e\u4e8e\u5e02\u573a\u9884\u671f\u3002\u4ece\u7ed3\u6784\u770b\uff0c\u5546\u54c1\u4ef7\u683c\u662f\u4e3b\u8981\u62d6\u7d2f\u9879\uff0c\u5176\u4e2d\u80fd\u6e90\u4ef7\u683c\u73af\u6bd4\u4e0b\u964d 3.1%\uff0c\u5e26\u52a8\u6574\u4f53\u751f\u4ea7\u7aef\u4ef7\u683c\u538b\u529b\u663e\u8457\u7f13\u89e3\uff0c\u5370\u8bc1\u524d\u671f\u5730\u7f18\u51b2\u7a81\u63a8\u5347\u7684\u6cb9\u4ef7\u51b2\u51fb\u6b63\u9010\u6b65\u6d88\u9000\u3002<\/p>\n

Tuy nhi\u00ean, sau khi ph\u00e2n t\u00edch theo t\u1eebng l\u1edbp, nh\u00f3m nghi\u00ean c\u1ee9u c\u1ee7a CD Markets nh\u1eadn th\u1ea5y r\u1eb1ng t\u00ednh d\u00ednh n\u1ed9i sinh c\u1ee7a l\u1ea1m ph\u00e1t v\u1eabn ch\u01b0a \u0111\u01b0\u1ee3c lo\u1ea1i b\u1ecf ho\u00e0n to\u00e0n. PPI nhu c\u1ea7u cu\u1ed1i c\u00f9ng c\u1ed1t l\u00f5i sau khi lo\u1ea1i tr\u1eeb d\u1ecbch v\u1ee5 th\u1ef1c ph\u1ea9m, n\u0103ng l\u01b0\u1ee3ng v\u00e0 th\u01b0\u01a1ng m\u1ea1i \u0111\u00e3 t\u0103ng t\u1eeb 0,1% l\u00ean 0,4% so v\u1edbi th\u00e1ng tr\u01b0\u1edbc. Gi\u00e1 d\u1ecbch v\u1ee5 v\u1eabn \u1edf m\u1ee9c cao, gi\u00e1 x\u00e2y d\u1ef1ng t\u0103ng m\u1ea1nh 2,2%. \u0110i\u1ec1u n\u00e0y c\u00f3 ngh\u0129a l\u00e0 m\u1ee9c gi\u1ea3m l\u1ea1m ph\u00e1t hi\u1ec7n nay ph\u1ee5 thu\u1ed9c nhi\u1ec1u v\u00e0o c\u00e1c m\u1eb7t h\u00e0ng n\u0103ng l\u01b0\u1ee3ng, \u00e1p l\u1ef1c gi\u00e1 n\u1ed9i sinh v\u1eabn c\u00f2n ki\u00ean c\u01b0\u1eddng v\u00e0 c\u00f2n qu\u00e1 s\u1edbm \u0111\u1ec3 k\u1ebft lu\u1eadn r\u1eb1ng \u201cl\u1ea1m ph\u00e1t th\u1eafng\u201d.<\/p>\n

\"\u0110\u00e1nh<\/p>\n

<\/a>\u6d88\u8d39\u7aef\uff1a\u96f6\u552e\u521b\u9636\u6bb5\u6700\u5927\u964d\u5e45\uff0c\u52a8\u80fd\u653e\u7f13\u800c\u975e\u5931\u901f<\/strong><\/p>\n

Doanh s\u1ed1 b\u00e1n l\u1ebb c\u1ee7a M\u1ef9 gi\u1ea3m 0,6% so v\u1edbi th\u00e1ng tr\u01b0\u1edbc trong th\u00e1ng 7, m\u1ee9c gi\u1ea3m l\u1edbn nh\u1ea5t k\u1ec3 t\u1eeb th\u00e1ng 5 n\u0103m ngo\u00e1i. Doanh s\u1ed1 b\u00e1n l\u1ebb trong \"nh\u00f3m ki\u1ec3m so\u00e1t\" c\u1ed1t l\u00f5i d\u00f9ng \u0111\u1ec3 t\u00ednh GDP gi\u1ea3m 0,4% so v\u1edbi th\u00e1ng tr\u01b0\u1edbc, ch\u1ea1m m\u1ee9c th\u1ea5p m\u1edbi k\u1ec3 t\u1eeb \u0111\u1ea7u n\u0103m 2025. Nh\u00ecn b\u1ec1 ngo\u00e0i, c\u00f3 t\u00edn hi\u1ec7u m\u1ea1nh v\u1ec1 ti\u00eau d\u00f9ng h\u1ea1 nhi\u1ec7t. Tuy nhi\u00ean, ch\u00fang t\u00f4i tin r\u1eb1ng vi\u1ec7c bi quan qu\u00e1 m\u1ee9c v\u1ec1 d\u1eef li\u1ec7u m\u1ed9t th\u00e1ng l\u00e0 kh\u00f4ng ph\u00f9 h\u1ee3p. C\u00f3 nh\u1eefng x\u00e1o tr\u1ed9n ng\u1eafn h\u1ea1n r\u00f5 r\u00e0ng trong d\u1eef li\u1ec7u suy y\u1ebfu:<\/p>\n

Ch\u01b0\u01a1ng tr\u00ecnh khuy\u1ebfn m\u00e3i Prime Day c\u1ee7a Amazon \u0111\u00e3 \u0111\u01b0\u1ee3c n\u00e2ng cao t\u1eeb th\u00e1ng 7 \u0111\u1ebfn th\u00e1ng 6, v\u01b0\u1ee3t qu\u00e1 nhu c\u1ea7u c\u1ee7a ng\u01b0\u1eddi ti\u00eau d\u00f9ng tr\u1ef1c tuy\u1ebfn; World Cup v\u00e0o th\u00e1ng 6 \u0111\u00e3 th\u00fac \u0111\u1ea9y c\u01a1 s\u1edf ti\u00eau d\u00f9ng gi\u1ea3i tr\u00ed, \u0111i\u1ec1u n\u00e0y c\u00f9ng d\u1eabn \u0111\u1ebfn s\u1ef1 s\u1ee5t gi\u1ea3m h\u00e0ng th\u00e1ng trong d\u1eef li\u1ec7u th\u00e1ng 7. Sau khi lo\u1ea1i tr\u1eeb c\u00e1c y\u1ebfu t\u1ed1 li\u00ean quan \u0111\u1ebfn m\u00f9a v\u1ee5 v\u00e0 s\u1ef1 ki\u1ec7n, ti\u00eau d\u00f9ng c\u1ee7a khu v\u1ef1c t\u01b0 nh\u00e2n v\u1eabn duy tr\u00ec m\u1ee9c t\u0103ng tr\u01b0\u1edfng d\u01b0\u01a1ng y\u1ebfu v\u00e0 m\u1ee9c ti\u1ebft ki\u1ec7m c\u1ee7a ng\u01b0\u1eddi d\u00e2n v\u1eabn cao h\u01a1n tr\u01b0\u1edbc d\u1ecbch. T\u1ef7 l\u1ec7 tr\u1ea3 n\u1ee3 \u0111\u1ea7y \u0111\u1ee7 b\u1eb1ng th\u1ebb t\u00edn d\u1ee5ng ti\u1ebfp t\u1ee5c t\u0103ng. \u0110i\u1ec1u ki\u1ec7n t\u00e0i ch\u00ednh c\u1ee7a h\u1ed9 gia \u0111\u00ecnh kh\u00f4ng h\u1ec1 x\u1ea5u \u0111i. Xu h\u01b0\u1edbng hi\u1ec7n nay thi\u00ean v\u1ec1 s\u1ef1 h\u1ed9i t\u1ee5 theo t\u1eebng giai \u0111o\u1ea1n c\u1ee7a \u0111\u00e0 ti\u00eau d\u00f9ng h\u01a1n l\u00e0 t\u00edn hi\u1ec7u suy tho\u00e1i cho th\u1ea5y ti\u00eau d\u00f9ng \u0111ang ch\u1eefng l\u1ea1i.<\/p>\n

<\/a>Vi\u1ec7c l\u00e0m: S\u1ed1 \u0111\u01a1n \u0111\u0103ng k\u00fd ban \u0111\u1ea7u t\u0103ng nh\u1eb9, bi\u00ean \u0111\u1ed9 th\u1ecb tr\u01b0\u1eddng lao \u0111\u1ed9ng n\u1edbi l\u1ecfng<\/strong><\/p>\n

\u540c\u671f\u62ab\u9732\u7684\u521d\u8bf7\u5931\u4e1a\u91d1\u4eba\u6570\u5347\u81f3 7 \u6708\u4e2d\u65ec\u4ee5\u6765\u65b0\u9ad8\uff0c\u7ed3\u5408\u6b64\u524d\u975e\u519c\u5c31\u4e1a\u6570\u636e\u4e0d\u53ca\u9884\u671f\uff0c\u5171\u540c\u6307\u5411\u7f8e\u56fd\u52b3\u52a8\u529b\u5e02\u573a\u6b63\u4ece \u201c\u6781\u5ea6\u7d27\u5f20\u201d \u5411\u6e29\u548c\u964d\u6e29\u8fc7\u6e21\u3002\u5c31\u4e1a\u7aef\u7684\u8fb9\u9645\u677e\u52a8\uff0c\u4e3a\u7f8e\u8054\u50a8\u653e\u7f13\u7d27\u7f29\u8282\u594f\u63d0\u4f9b\u4e86\u57fa\u672c\u9762\u652f\u6491\u3002<\/p>\n

<\/a>K\u1ef3 v\u1ecdng ch\u00ednh s\u00e1ch nhanh ch\u00f3ng \u0111\u01b0\u1ee3c x\u00e2y d\u1ef1ng l\u1ea1i: c\u01a1 h\u1ed9i t\u0103ng l\u00e3i su\u1ea5t trong th\u00e1ng 9 thu h\u1eb9p, nh\u01b0ng v\u1eabn c\u00f2n nh\u1eefng kh\u00e1c bi\u1ec7t n\u1ed9i b\u1ed9<\/strong><\/p>\n

Khi d\u1eef li\u1ec7u l\u1ea1m ph\u00e1t v\u00e0 ti\u00eau d\u00f9ng \u0111\u1ec1u h\u1ea1 nhi\u1ec7t, m\u1ee9c \u0111\u1ecbnh gi\u00e1 tr\u00ean th\u1ecb tr\u01b0\u1eddng \u0111\u1ed1i v\u1edbi vi\u1ec7c C\u1ee5c D\u1ef1 tr\u1eef Li\u00ean bang t\u0103ng l\u00e3i su\u1ea5t v\u00e0o th\u00e1ng 9 \u0111\u00e3 gi\u1ea3m t\u1eeb h\u01a1n m\u1ed9t n\u1eeda xu\u1ed1ng c\u00f2n kho\u1ea3ng 40% v\u00e0 k\u1ef3 v\u1ecdng v\u1ec1 nhi\u1ec1u \u0111\u1ee3t t\u0103ng l\u00e3i su\u1ea5t trong n\u0103m \u0111\u00e3 suy y\u1ebfu \u0111\u00e1ng k\u1ec3. CD Markets \u0111\u00e1nh gi\u00e1 r\u1eb1ng hi\u1ec7n t\u1ea1i, h\u1ecd ch\u1ec9 c\u00f3 th\u1ec3 x\u00e1c nh\u1eadn r\u1eb1ng \u201cs\u1ef1 c\u1ea5p b\u00e1ch c\u1ee7a vi\u1ec7c t\u0103ng l\u00e3i su\u1ea5t \u0111\u00e3 gi\u1ea3m\u201d, v\u00e0 c\u00f2n l\u00e2u m\u1edbi chuy\u1ec3n sang n\u1edbi l\u1ecfng. V\u1eabn c\u00f3 s\u1ef1 ph\u00e2n bi\u1ec7t r\u00f5 r\u00e0ng v\u1ec1 c\u00e1c v\u1ecb tr\u00ed trong C\u1ee5c D\u1ef1 tr\u1eef Li\u00ean bang:<\/p>\n

\"\u5c40\u90e8\u622a\u53d6_20260817_151035\"<\/p>\n