20231107_国盛证券_轻工制造行业研究报告:复苏从分化走向共识_40页.pdf

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|2023 11 07 2023Q3 6-8+10.8%/+9.9%/+9.6%Q4+2023Q1-3+16.2%2022-10%2023Q3+6.0pct 52.8%1 2023H2 Q3 8.85+29.1%2 1.55+120.4%CCER Q3/+7.6%/+11.1%/+17.7%/+140.6%Q4 Q3 1&NJOY 2 Q3 7 S0680523040001 1 CCER CCER 2023-10-25 2 2023-10-15 3 Q3&2023-10-06-16%0%16%32%2022-11 2023-03 2023-07 2023-11 300 2023 11 07 P.2 Q4 EPS P E 2022A 2023E 2024E 2025E 2022A 2023E 2024E 2025E 002078.SZ 1.01 1.13 1.35 1.57 12.03 10.75 9.00 7.74 603195.SH 3.58 4.29 5.03 5.84 28.52 23.80 20.30 17.48 605377.SH 1.41 1.72 2.04 2.27 15.04 12.33 10.39 9.34 603816.SH 2.20 2.48 2.91 3.38 16.72 14.83 12.64 10.88 603833.SH 4.41 5.24 5.95 6.77 20.15 16.95 14.93 13.12 603801.SH 1.23 1.43 1.71 2.00 16.18 13.92 11.64 9.95 603180.SH 1.80 1.95 2.36 2.79 14.95 13.80 11.40 9.65 603818.SH 0.06-0.19 0.35 0.60 88.83-28.05 15.23 8.88 Wind 2023 11 07 P.3 1.5 1.1&.5 1.2.11 2.14 2.1.14 2.2.18 3.23 4.27 4.1.27 4.2.27 4.3.28 5.29 6.33 7.38 8.39 1%.5 2%.6 3.6 4.7 5.8 6-.8 7.9 8.9 9%.10 10%.10 11.10 12.11 13.11 14.11 15%.12 16%.12 17.12 18.13 19%.14 20%.15 21/.15 22%.16 23.16 24.16 25.17 2023 11 07 P.4 26.17 27.18 28.18 29.19 30&.19 31.20 32%.20 33%.21 34.21 35.22 36.24 37.24 38.24 39 2023 9.24 40%.25 41%.26 42.27 43.28 44.28 45.28 46%.29 47.29 48.29 49 2023Q3-20.1%.30 50 2023Q3-22.2%.30 51 2023Q3-11.1%.30 52 2023Q3-3.0%.30 53.31 54&.32 55%.32 56&.33 57&.33 58.34 59&.35 60.36 61.37 62/.37 2023 11 07 P.5 1 1.1&6-8+10.8%+9.9%+9.6%Q4 SPO 1%Wind 2023 11 07 P.6 2%Wind 3 Wind 2018-2022 1 Q3 699/Q4 2023Q1-3/1.94+6.7%/1.43+13.7%2023Q3+118.6%/+31.9%2023 11 07 P.7 2 4 Wind 2019-2023Q3 2019-2023H1 2023 11 07 P.8 5 Wind 2018-2023Q3 1 Q3/&/2+2023 1-9+20.1%/2023Q3 12.4%/40.1%20.8%16.7%Q4 6-Wind 2019-2023Q3 2019-2023H1 2018H1 2018H2 2018A 2019H1 2019H2 2019A 2020H1 2020H2 2020A 2021H1 2021H2 2021A 2022H1 2022H2 2022A 2023H1 5.27 6.05 11.32 7.27 12.26 19.53 9.03 14.35 23.38 13.92 19.45 33.38 17.23 18.34 35.57 19.16YOY 22.4%32.9%27.8%38.0%102.5%72.5%24.2%17.1%19.7%54.2%35.5%42.8%23.8%-5.7%6.6%11.2%40.0%36.7%38.2%42.6%30.6%35.1%35.0%36.0%35.6%34.3%32.5%33.2%34.4%35.9%35.2%35.3%33.29 37.68 42.78 63.81 30.86 36.51 67.37-YOY 25.8%13.2%13.5%49.1%20.8%-4.6%5.6%-31.4%37.1%35.7%34.1%33.7%-28.61 35.03 40.00 24.37 30.79 55.17 22.77 25.12 47.89 20.01YOY 22.5%14.2%-37.9%-6.6%-18.4%-13.2%-12.1%51.3%55.1%52.0%49.6%49.6%49.6%50.1%-53.0%5.31 12.40 8.71 13.77 22.48 14.65 19.33 33.99 15.06 12.21 27.27-YOY 11.68%133.53%81.31%68.19%40.43%51.18%2.79%-36.86%-19.77%-23.40%40.80%44.50%-26.15 27.32 28.55 39.61 19.50 20.98 40.48-YOY 36.9%4.5%4.5%38.7%29.3%-14.3%2.2%-30.2%36.6%35.2%36.2%-36.8%-18.37 22.51 23.96 14.25 17.94 32.19 12.87 14.41 27.28 11.46YOY-22.6%6.4%-34.3%-9.7%-19.7%-15.2%-11.0%58.4%61.2%59.3%57.5%57.0%57.2%57.7%60.0%58.9%62.6%7.15 10.36 14.23 24.20 11.36 15.54 26.90-YOY-3.1%45.0%37.3%70.0%9.0%12.8%11.2%-35.6%38.6%36.7%30.8%-29.0%-10.24 12.52 16.04 10.12 12.86 22.98 9.90 10.71 20.61 8.55YOY-22.2%28.1%-43.3%-2.2%-16.7%-10.3%-13.6%38.7%44.2%41.1%38.6%39.2%38.9%40.2%-40.0%21.44 30.01 51.44 28.24 30.07 58.31 24.15 39.98 64.13 41.17 51.50 92.68 47.09 42.63 89.72 43.26YOY 17.5%60.6%39.3%31.7%0.2%13.3%-14.5%33.0%10.0%70.5%28.8%44.5%14.4%-17.2%-3.2%-8.1%52.9%58.6%56.1%56.4%49.4%52.6%49.7%51.2%50.6%51.4%49.9%50.5%52.2%47.4%49.8%33.7%5.82 6.19 7.18 10.54 4.89 4.13 9.02-YOY-6.4%15.9%46.9%9.0%-31.8%-14.5%-20.8%26.6%28.4%21.9%-25.3%-3.59 2.14 4.50 1.86YOY-25.4%-13.1%41.44 44.71 86.16 38.31 43.25 81.55 46.41 70.83 117.24 70.59 75.58 146.17 67.08 55.91 122.99-YOY 8.61%4.96%6.69%-7.57%-3.27%-5.34%21.15%63.78%43.76%52.11%6.70%24.68%-4.97%-26.02%-15.86%-35.00%39.24%37.20%37.80%39.50%38.70%36.10%38.25%37.40%37.50%37.11%37.30%39.90%36.82%38.50%-0.82 1.30 2.12 1.38 2.05 3.43 1.35 3.21 4.56 2.94 3.67 6.60 3.54 4.07 7.62 3.93YOY-145.8%67.6%58.0%61.7%-2.2%56.5%32.9%118.3%14.0%44.8%20.7%11.1%15.3%11.0%27.2%31.7%30.0%30.7%39.2%35.8%34.1%36.5%35.8%32.2%32.6%32.4%32.9%33.2%33.1%28.3%2023 11 07 P.9/2023Q1-3-239 7376+3.5%2023 200+2.0/2023Q1-3+407/+347 4638/4076 7 8 Wind 2017-2023Q3 Wind 2017-2023H1 MDI TDI Q3 10%-30%Q3 4.49pct 37.62%SKU+3.70pct 50.98%+3.7pct 33.76%2017 2018 2019 2020 2021 2022 2023H1 4036.49 5209.84 6096.87 7649.13 10712.46 10303.50 5234.71 4935 6076 6486 6691 6456 6743 81.8 85.7 94.0 114.3 165.9 152.8YOY 4.8%9.6%21.6%45.1%-7.9%1349.05 1903.83 2328.63 3084.70 5054.39 5091.67 2550 1517.00 2020.00 2168.00 2340.00 3899.00 4702.00 5425 88.93 94.25 107.41 131.82 129.63 108.29 47.00YOY 6.0%14.0%22.7%-1.7%-16.5%-5.4%内销 3870.90 4708.10 6354.50 8632.60 11000.50 9969.71 2399 2614 2874 4122 5968 6471 161.35 180.11 221.10 209.43 184.32 154.07YOY 11.6%22.8%-5.3%-12.0%-16.4%-6377.50 5706.59 2357.38-4900 5600 5700-130.15 101.90 41.36YOY-21.7%-15.6%2023 11 07 P.10 9%Wind 10%Wind 2023Q3 11 Wind 2023 11 07 P.11 12 Wind 1.2&2023Q1-3+16.2%43.3 2019-2023Q1-3 2700 2100+&2023Q3 7.2%6.1%4.3%4.0%13 14 2023Q3/18.46/5.73-5.8%/+18.0%7 Q4 2023Q3/1.16/0.63-36.9%/-11.6%29.4%/29.5%-3.2pct/+3.1pct H1 Q3+0.4pct&SKU 0%5%10%15%20%25%30%0102030405060702019 2020 2021 2022 2023Q1-3 YOY%200021002200230024002500260027002019 2020 2021 2022 2023Q1-3 2023 11 07 P.12 CSHIA Research 2023+20.2%30%+2023Q3+3.2%+28.4%+6.0pct 52.8%15%Wind 16%Wind 2023Q3/2.92/1.02/0.84-1.83/-0.43/+0.55 2023Q3/+3.15/+2.42/-2.85-7.76/-0.52/-3.72-7.77/-14.17/-9.56 17 Wind 2023 11 07 P.13 18 Wind 2023 11 07 P.14 2 2.1 2023H2 11 Arauco 780/+100/630/+155/9 Q4 Q4 1 Q3 98.61+0.8%+3.4%8.85+45.5%+29.1%Q3 19.24-24.8%-11.5%13.17-92.4%-14.6%Q4 2 Q3 50.21+0.9%+11.7%2.53+40.6%+68.1%Q3 71.57-17.5%+11.7%-0.80-868.7%+80.6%Q3/-28%/-4%8 Q3 61+7%187+21%+7%75.64-13.9%+2.3%1.55+311.4%+120.4%Q4 19%Wind 2021 22Q1 22Q2 22Q3 22Q4 2022 23Q1 23Q2 23Q3 2021 22Q1 22Q2 22Q3 22Q4 2022 23Q1 23Q2 23Q3大宗 150491.18 38989.35 41545.25 122290.56 40332.54 162623.10 35124.50 71415.97 109373.80 154995.06 44340.40 46361.96 127747.05 44822.65 167113.21 40396.99 76793.39 114633.11YOY 24.2%4.4%14.5%219.5%4.5%8.1%-9.9%71.9%-10.6%23.3%1.7%7.6%189.0%4.0%7.8%-8.9%65.6%-10.3%31996.64 9667.37 10187.62 9785.49 10126.45 39766.93 9805.03 9536.98 9860.52 32368.28 10333.37 10795.86 10586.47 10654.15 40294.63 10458.82 10133.36 10678.80YOY 48.2%26.5%24.7%23.8%22.3%24.3%1.4%-6.4%0.8%41.5%12.9%17.2%28.6%23.1%24.5%1.2%-6.1%0.9%16276.12 4139.91 4728.70 4976.78 4516.39 18361.78 4161.53 4495.61 5020.59 16790.94 4139.91 5295.56 5578.83 5060.31 18905.70 4767.61 5238.91 5666.94YOY 16.4%2.2%19.7%26.6%4.1%12.8%0.5%-4.9%0.9%17.2%-21.1%17.4%20.1%4.2%12.6%15.2%-1.1%1.6%33032.81 7961.28 8706.67 8781.14 8565.03 34014.12 6351.50 7396.05 7564.43 33102.88 7961.28 8824.92 8965.83 8651.86 34100.95 6476.37 7484.84 7684.57YOY 32.3%16.6%4.0%-0.8%-4.6%3.0%-20.2%-15.1%-13.9%32.1%14.9%4.2%-0.8%-4.4%3.0%-18.7%-15.2%-14.3%33019.81 8514.98 8161.45 8679.61 6648.33 32004.37 6155.92 6409.05 7156.89 34402.10 8514.98 9495.58 9978.20 7954.36 33310.40 7733.60 8038.11 8571.81YOY 7.4%-16.6%17.1%1.1%-8.4%-3.1%-27.7%-21.5%-17.5%8.2%-25.9%3.7%-4.7%-7.9%-3.2%-9.2%-15.3%-14.1%7838.05 1669.31 2197.08 2557.16 3357.94 9781.49 2522.47 2173.94 1923.53 8262.43 1669.31 2653.06 3195.63 3749.38 10172.93 2903.64 2482.76 2199.37YOY 10.1%-15.0%12.8%37.1%62.8%24.8%51.1%-1.1%-24.8%10.2%-28.8%14.4%41.5%50.8%23.1%73.9%-6.4%-31.2%大宗 10349.21 1678.65 1617.11 975.95-2343.67 1928.04-279.04 372.42 1675.88 9512.98 1589.82 1503.45 834.08-2911.68 1015.67-481.87-178.98 626.05YOY 31.3%-61.3%-58.7%-45.9%-886.1%-81.4%-116.6%-77.0%71.7%34.3%-62.1%-57.9%-44.6%-1327.7%-89.3%-130.3%-111.9%-24.9%2956.84 674.99 984.44 608.57 540.75 2808.77 565.60 685.72 885.26 2931.71 658.18 980.27 596.47 536.15 2771.07 553.00 665.14 867.16YOY 51.4%-39.1%-12.4%13.4%186.8%-5.0%-16.2%-30.3%45.5%52.4%-39.2%-11.7%12.9%154.3%-5.5%-16.0%-32.1%45.4%1705.68 180.60 251.87 180.22-384.61 228.07-497.05 150.75 253.38 1712.77 175.18 260.12 174.87-389.14 221.03-547.87 94.76 241.71YOY 104.5%-77.7%-64.2%-55.2%-82.2%-86.6%-375.2%-40.1%40.6%108.4%-78.3%-63.6%-56.4%-84.9%-87.1%-412.7%-63.6%38.2%1515.67 199.97-71.89-73.18-2311.34-2256.45-341.27 70.18 154.69 1200.10 172.77-108.69-133.39-2337.33-2406.64-377.05-59.00 77.46YOY 9.7%-57.8%-113.5%-124.2%-1206.6%-248.9%-270.7%197.6%311.4%-16.1%-59.7%-137.5%-159.9%-1004.5%-300.5%-318.2%45.7%158.1%2065.51 113.92 116.22 10.43-51.29 189.29-275.41-412.67-80.21 1743.88 99.64 73.77-18.27-516.59-361.46-327.89-483.95-439.77YOY 20.6%-90.3%-86.2%-93.5%56.1%-90.8%-341.8%-455.1%-868.7%55.8%-91.4%-90.8%-94.0%-144.3%-120.7%-429.1%-756.0%-2306.7%298.08 124.23 175.42 174.30 141.61 615.56 87.49 15.42 13.17 210.03 112.96 166.38 156.50 111.93 547.77 62.83-7.51 9.89YOY-28.1%-25.6%22.5%269.9%339.0%106.5%-29.6%-91.2%-92.4%-44.3%-26.5%23.7%373.4%200.7%160.8%-44.4%-104.5%-93.7%&2023 11 07 P.15 20%Wind 21/2022Q1 6753.84 5736.81 5879.81 5482.71 6115.75 2317.31 3857.09 4883.78 4848.75 0.14%6.44%-8.68%-15.09%-27.39%0.67%1.60%4.16%-10.93%22.31%23.96%6.67%2.28%1.60%-4.72%-9.26%-5.43%-4.94%2022Q2 7367.06 6379.33 6155.65 5592.58 6373.15 2344.63 3724.95 4844.19 4589.02 5.78%21.39%-7.49%-18.31%-30.02%5.02%1.31%4.62%-11.25%9.08%11.20%4.69%2.00%4.21%1.18%-3.43%-0.81%-5.36%2022Q3 7389.1 6715.00 6253.08 5490.00 5632.00 2112.86 3458.21 4699.06 4106.63 16.03%40.57%14.62%0.86%-8.70%-12.07%-11.02%-2.11%-15.23%0.30%5.26%1.58%-1.83%-11.63%-9.89%-7.16%-3.00%-10.51%2022Q4 7612.58 6744.58 6662.3 5658.85 5300.66 1965.62 3321.66 4479.54 4078.18 37.86%45.74%20.87%5.56%-11.94%-19.18%-21.86%-13.26%-20.04%3.02%0.44%6.54%3.08%-5.88%-6.97%-3.95%-4.67%-0.69%2023Q1 7188.50 6015.42 6693.85 5689.35 5105.97 1677.81 3125.88 4277.41 4078.79 6.44%4.86%13.84%3.77%-16.51%-27.60%-18.96%-12.42%-15.88%-5.57%-10.81%0.47%0.54%-3.67%-14.64%-5.89%-4.51%0.02%2023Q2 5857.38 4316.83 6060.48 5429.92 4486.61 1584.03 2847.80 3945.43 3702.44-20.49%-32.33%6.88%-2.96%-29.60%-32.44%-23.55%-18.55%-19.32%-18.52%-28.24%-1.71%-4.61%-12.13%-5.59%-8.90%-7.76%-9.23%2023Q3 5752.63 4687.25 5559.77 5325.87 4380.47 1526.24 2763.30 3748.30 3522.99-22.15%-30.20%-11.09%-2.99%-22.22%-27.76%-20.09%-20.23%-14.21%-1.79%8.58%-8.26%-1.92%-2.37%-3.65%-2.97%-5.00%-4.85%Wind 2023Q3/6.90%/9.30%/11.09%/14.32%/7.36%-0.66pct/-0.56pct/+2.04pct/+2.13pct/-1.57pct 2019 2020 2021 22Q1 22Q2 22Q3 22Q4 2022 23Q1 23Q2 23Q3 2019 2020 2021 22Q1 22Q2 22Q3 22Q4 2022 23Q1 23Q2 23Q3大宗 20.79%18.50%17.38%13.36%13.80%11.29%8.08%11.63%8.98%10.97%10.85%16.79%17.50%16.65%12.65%13.10%10.48%7.40%10.91%8.10%10.15%9.99%YOY()-1.88%-2.28%-1.13%-9.61%-8.48%-2.31%-3.02%-5.75%-4.38%-2.83%-0.44%-2.18%0.72%-0.85%-9.51%-8.56%-2.40%-2.97%-5.75%-4.55%-2.95%-0.49%22.54%19.44%17.37%13.97%18.88%14.50%13.22%15.17%13.51%16.13%16.74%18.41%18.96%16.95%13.57%18.51%14.14%12.81%14.78%13.15%15.74%16.36%YOY()-0.91%-3.11%-2.07%-9.47%-3.26%0.08%3.33%-2.21%-0.46%-2.75%2.24%-1.60%0.55%-2.01%-9.48%-3.26%0.13%3.46%-2.16%-0.42%-2.76%2.21%14.58%17.06%22.93%14.92%18.82%14.79%-2.32%11.65%-4.60%12.58%15.81%10.47%16.80%22.54%14.30%18.17%13.80%-2.74%10.97%-5.74%11.75%14.84%YOY()-1.46%2.48%5.87%-18.50%-15.81%-7.01%-5.82%-11.28%-19.52%-6.24%1.02%-1.61%6.33%5.74%-18.77%-15.88%-7.54%-6.06%-11.57%-20.04%-6.42%1.04%19.06%16.74%12.19%10.70%7.87%7.14%3.45%7.23%7.72%9.49%10.15%14.43%15.37%11.12%9.66%6.78%6.04%2.06%6.07%6.33%8.19%8.84%YOY()-3.99%-2.33%-4.55%-4.21%-5.65%-2.47%-7.97%-4.96%-2.98%1.61%3.01%-4.66%0.94%-4.25%-4.09%-5.82%-2.66%-8.08%-5.05%-3.33%1.41%2.80%28.36%23.07%23.61%16.19%15.23%12.36%14.09%14.47%10.52%6.57%4.38%24.10%22.10%22.73%15.30%14.46%11.51%13.63%13.71%9.69%5.70%3.50%YOY()-2.91%-5.29%0.54%-12.89%-18.41%-2.89%-2.11%-9.15%-5.67%-8.67%-7.97%-3.05%-2.00%0.63%-13.09%-18.06%-2.91%-1.55%-9.01%-5.61%-8.77%-8.01%18.91%18.97%15.11%18.70%17.20%15.47%12.55%15.41%11.81%8.64%5.02%14.45%14.65%13.58%17.31%15.87%14.25%11.70%14.26%10.62%7.46%3.54%YOY()-1.88%0.06%-3.86%-2.40%-2.40%2.61%5.37%0.30%-6.89%-8.56%-10.45%-1.92%0.20%-1.06%0.24%-4.66%3.42%5.52%0.68%-6.69%-8.42%-10.71%大宗 5.98%6.51%6.88%4.31%3.89%0.80%-5.81%1.19%-0.79%0.52%1.53%8.07%8.64%11.18%1.79%1.71%1.03%-2.52%2.07%-0.30%0.70%1.40%YOY()-2.67%0.52%0.37%-7.31%-6.89%-3.91%-6.58%-5.69%-5.10%-3.37%0.73%-4.07%0.58%2.53%-2.87%-2.39%-0.87%-2.84%-9.11%-2.09%-1.01%0.37%9.57%9.05%9.24%6.98%9.66%6.22%5.34%7.06%5.77%7.19%8.98%14.93%12.12%15.78%3.54%4.88%2.85%2.41%12.17%2.43%2.84%3.54%YOY()-0.71%-0.52%0.19%-7.51%-4.09%-0.57%3.06%-2.18%-1.21%-2.47%2.76%-2.87%-2.81%3.66%-3.10%-1.44%-0.02%1.41%-3.62%-1.11%-2.05%0.69%1.37%5.97%10.48%4.36%5.33%3.62%-8.52%1.24%-11.94%3.35%5.05%2.54%13.70%23.47%2.50%3.57%2.60%-5.73%3.50%-7.93%2.48%4.05%YOY()-1.70%4.59%4.51%-15.64%-12.48%-6.62%-3.65%-9.24%-16.31%-1.97%1.43%-2.44%11.17%9.77%-9.98%-6.44%-2.88%-2.88%-19.97%-10.43%-1.09%1.45%5.86%5.53%4.59%2.51%-0.83%-0.83%-26.99%-6.63%-5.37%0.95%2.04%9.45%8.86%9.18%1.20%-0.44%-0.46%-15.81%-16.61%-2.55%0.53%1.16%YOY()-7.29%-0.33%-0.94%-4.43%-7.16%-4.25%-29.31%-11.22%-7.88%1.77%2.88%-14.85%-0.60%0.32%-1.79%-3.71%-2.30%-17.07%-25.78%-3.75%0.97%1.62%5.45%5.57%6.26%1.34%1.42%0.12%-0.77%0.59%-4.47%-6.44%-1.12%6.58%7.05%10.82%0.59%0.60%0.05%-0.27%0.99%-1.45%-2.22%-0.45%YOY()-3.24%0.12%0.69%-10.22%-10.66%-1.76%0.84%-5.66%-5.81%-7.86%-1.24%-3.44%0.47%3.77%-4.40%-3.04%-0.67%0.31%-9.83%-2.05%-2.83%-0.51%4.41%5.82%3.80%7.44%7.98%6.82%4.22%6.29%3.47%0.71%0.68%3.79%4.84%3.41%1.41%1.98%1.95%1.55%6.69%0.95%0.17%0.15%YOY()-0.81%1.41%-2.02%-1.07%0.63%4.29%7.09%2.49%-3.97%-7.27%-6.13%-0.69%1.05%-1.44%-0.52%0.34%1.41%2.23%3.29%-0.46%-1.81%-1.80%ROE 2023 11 07 P.16 22%Wind 2023Q3 Q3/15.77/4.62/11.46/18.58/9.14+11.30/+1.26/+11.12/+17.07/-0.92 23 Wind 24 Wind 2019 2020 2021 22Q1 22Q2 22Q3 22Q4 2022 23Q1 23Q2 23Q3 2019 2020 2021 22Q1 22Q2 22Q3 22Q4 2022 23Q1 23Q2 23Q3 10.94%7.87%6.42%6.16%7.68%7.57%6.73%7.04%7.10%8.51%6.90%4.29%4.93%4.22%4.43%4.91%4.77%4.13%4.56%4.70%5.45%4.82%YOY()0.40%-3.07%-1.46%0.67%2.02%0.99%-1.14%0.62%0.93%0.83%-0.66%0.50%0.64%-0.70%1.41%1.61%0.51%-2.08%0.34%0.28%0.54%0.05%12.26%8.99%8.16%8.44%9.89%9.86%9.66%9.50%10.95%10.51%9.30%2.89%4.64%6.73%6.31%7.64%6.51%7.79%7.07%6.43%6.71%6.78%YOY()0.62%-3.28%-0.83%2.14%-1.33%2.60%1.76%1.34%2.51%0.61%-0.56%0.79%1.74%2.09%1.21%-0.10%0.69%-0.35%0.35%0.12%-0.94%0.26%13.48%11.10%9.94%10.05%10.67%9.05%13.48%10.82%15.33%12.64%11.09%6.95%6.62%6.76%6.67%7.63%6.41%7.76%7.12%9.11%8.12%6.30%YOY()0.54%-2.38%-1.16%0.47%0.29%0.28%2.53%0.88%5.28%1.97%2.04%1.01%-0.33%0.14%-0.03%1.13%0.10%0.26%0.36%2.44%0.49%-0.11%20.86%16.79%15.38%13.86%13.29%12.19%16.64%13.84%15.94%13.35%14.32%7.00%7.48%7.26%6.50%6.77%5.99%6.23%6.38%7.63%6.42%6.48%YOY()0.67%-4.07%-1.41%0.31%-5.83%-3.81%3.04%-1.54%2.08%0.06%2.13%0.43%0.48%-0.23%0.48%-2.34%-1.10%-1.17%-0.88%1.12%-0.35%0.48%12.73%11.86%10.73%11.72%8.72%8.93%7.72%8.95%9.55%9.66%7.36%6.81%6.62%6.89%7.98%5.22%5.97%5.81%6.09%6.95%6.37%3.92%YOY()-0.32%-0.88%-1.13%0.24%-1.92%-3.07%-1.22%-1.78%-2.17%0.93%-1.57%0.29%-0.19%0.27%1.06%-2.45%-1.53%0.23%-0.80%-1.03%1.15%-2.06%2.48%3.02%2.54%2.52%2.59%2.62%2.66%2.60%2.51%2.49%2.27%1.81%1.90%1.68%1.91%2.32%2.15%1.47%1.96%2.20%2.96%2.55%YOY()-0.08%0.55%-0.48%0.41%0.67%-0.21%-0.63%0.05%-0.01%-0.10%-0.35%0.58%0.09%-0.22%1.00%0.94%0.71%-1.45%0.28%0.28%0.63%0.40%2.82%2.64%3.31%3.38%3.86%3.20%1.63%3.03%3.81%2.72%2.98%0.08%2.00%3.42%2.93%3.78%3.31%6.15%4.05%2.63%3.99%3.80%YOY()0.79%-0.18%0.67%0.31%1.21%-0.20%-2.42%-0.28%0.42%-1.14%-0.22%0.01%1.92%1.42%0.90%-1.31%0.89%2.07%0.63%-0.30%0.
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