本报记者 丁冰

Our reporter DingBing

　　27日统计局将公布8月最后一项经济数据，即工业经济效益。从此前已披露的8月国企经营情况来看，该数据料继续下滑。而汇丰银行最新公布的9月中国制造业PMI初值虽较8月终值出现小幅回升，但仍是连续11个月低于50%的荣枯分界线，其中制造业产出指数初值更是下降至10个月以来的新低。经济见底预期推迟正在主导市场情绪，10月1日公布的官方PMI数据将十分关键。

27 bureau of statistics will be released on August last an economic data,Namely industrial economic benefit.From the previously released August state-owned enterprise management situation,The data materials continue to slide.And HSBC bank released the latest September, China manufacturing PMI initial value is a 8 the end of a month value appear small picks up,But still is continuous 11 months less than 50% of the vicissitude demarcation line,Manufacturing output index of initial value but also fell to a new low of 10 months.Economic see bottom expected delay is the leading market sentiment,On October 1, according to official PMI data will be critical.

　　在偏冷的经济基本面影响下，本周股指创下2009年2月以来的新低，2000点岌岌可危。再加上临近“十一”长假，持股还是持币这一老话题，格外让人纠结。不过，不少机构对四季度行情仍抱有期待，认为随着“稳增长”政策累积效应逐渐显现，再加上去年同期经济下滑速度较快，在基数效应作用下，四季度GDP有望出现小幅回升。

In the partial cold under the influence of economic fundamentals,A stock index this week since February 2009 low,2000 points at risk.Plus near"eleven"holiday,Holding or the money the old topic,Especially to ravel.but,Many institutions to fourth quarter market still have look forward to,Think with"Steady growth"Policy cumulative effect appears gradually,Coupled with the same period last year economic downturn faster,Under the action of the base effect,Fourth quarter GDP is expected to be a small rebound.

　　美联储推出的QE3对经济复苏和失业率改善会有多大效应，尚难有定论，但对房地产行业而言无疑具有加速复苏的作用。最新公布的数据显示，美国8月二手房和新房开工量都明显上升，长期低利率政策仍将继续提振购房需求回升。27日将公布8月新房住房销售数据，或继续印证这一判断。

The federal reserve QE3 launched on economic recovery and improve the unemployment rate will have how old effect,Is still a twist,But to real estate industry undoubtedly have accelerated in the role of the recovery.The latest figures show,The United States on August second-hand house and bridal chamber starts are increased obviously,Long-term low interest rate policy will continue to boost the pent-up demand picks up.27 August will publish new housing sales data,Or continue to confirm this judgment.

　　欧元区最新公布的综合PMI初值仅为45.9%，创39个月新低。27日将公布欧元区17国一系列信心指数，包括消费者信心指数、经济景气指数、服务业信心指数、经济景气指数和工业信心指数。上述指数自今年3月小幅反弹后一路下滑，预计短期内难以出现明显改善。

The euro area's latest comprehensive PMI initial value is only 45.9%,Gen 39 months low.27 will publish the euro area 17 countries a series of confidence index,Including the consumer confidence index/Economic boom index/Service industry confidence index/The economic boom index and industrial confidence index.The above index since march this year after a rebound went way down,In the short term is expected to appear obviously improved.