investment is much

 Although the inventory investment is very low in GDP, the cyclical fluctuation of inventory has a significant effect on the cyclical fluctuation of GDP because the volatility of inventory investment is much higher than that of GDP. Fluctuations in inventories have distinct cyclical characteristics. According to Yi Gang and Wu Renhao (2000) research, inventory fluctuations from the following three shocks, that is, the impact of cost, demand shocks and financial shocks. The so-called cost replica watches uk shock, refers to the real changes in production costs lead to inventory of the procyclical fluctuations. For example, when the cost of production increases, the firm will cut production accordingly, but the residents will not significantly reduce consumption, resulting in a decline in inventory levels. The so-called demand shock, refers to the volatility of inventory caused by fluctuations in demand. The so-called financial shock, is the real interest rate rise (decline) led to the level of inventory at the same time significantly reduced (increased).

The most commonly used industrial enterprises in the market inventory data, is the finished product inventory of industrial enterprises. As shown in Figure 1, China's industrial enterprises finished product inventory cumulative
replica watches year-on-year growth rate in June 2016 (-1.9%). In fact, since 1996, the cumulative growth rate of finished goods inventories in industrial enterprises has only experienced a negative growth in August 2009. April 2016 to October 2016, industrial enterprises finished product inventories cumulative year-on-year growth rate for seven consecutive months of swiss replica watches negative growth situation is unprecedented, which means that when the pressure to go to the stock business. It is for this reason that despite the cumulative growth rate of finished goods inventories of industrial enterprises from -1.9% to 8.2% (rising for eight consecutive months) from June 2000 to March 2017, there are still many analysts , The inventory cycle is far from over.


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