---
type: "Topics"
locale: "zh-CN"
url: "https://longbridge.com/zh-CN/topics/39261301.md"
description: "Macroeconomic Core Indicators Cheat Sheet Making you an ultra-simple, easy-to-memorize, and immediately usable macro cheat sheet, focusing only on the core, no fluff. Macroeconomic Core Indicators · Cheat Sheet (M1/M2/Social Financing/Loans/Bonds/Interest Rates)   1. Total Money Supply: M2 - Definition: Total sum of all money in the economy Cash + Household deposits + Corporate deposits + Other deposits - In a nutshell: M2 = Total liquidity in the market- How to interpret- M2 growth rate ↑ = More money, looser liquidity- M2 growth rate ↓ = Less money, tighter liquidity   2. Money Activity: M1 - Definition: Active money Cash + Corporate demand deposits - In a nutshell: M1 = Money companies can spend immediately- How to interpret- M1 ↑ = Companies willing to invest, expand, active economy- M1 ↓ = Companies inactive, not investing, weaker economy- Classic combination- High M2, Low M1: Lots of money, but only saved, not spent- M1 turning upward: Signal of economic recovery   3. Leading Economic Indicator: Social Financing Scale - Definition: Total amount of money borrowed by the real economy Bank loans + Bonds + Non-standard financing, etc. - In a nutshell: Social financing = Leading barometer of the economy- How to interpret- Social financing ↑ = Companies/households dare to borrow, dare to invest → Strong economy- Social financing ↓ = Weak demand, no one borrowing → Weak economy- Most crucial: Social financing is more sensitive and reacts earlier than GDP   4. Largest Component of Social Financing: Loans - Corporate loans- ↑ = Corporate expansion, strong investment- Household loans- Medium & long-term ↑ = Strong confidence in buying property- Short-term ↑ = Consumption recovery- In a nutshell: Strong loans = Real demand in the economy   5. Direct Financing: Bonds - Government bonds: Infrastructure projects, supporting the economy- Corporate bonds: Companies borrowing directly- Bond interest rates- Interest rate ↑ = Expensive to borrow, tight funds- Interest rate ↓ = Cheap to borrow, loose policy   6. Master Switch: Interest Rates & Monetary Policy - Interest rate cut / RRR cut → Easing → Good for economy, good for assets- Interest rate hike / Tightening → Tightening → Suppress overheating, suppress assets- Logic chain Interest rate cut → M2 increases → Interest rates fall → Loans/Social financing rise → Economic recovery   Ultra-simple mantra (memorize this is enough) - M2 for liquidity- M1 for activity- Social financing for demand- Loans for confidence- Interest rates for tightness/looseness   If you're willing, I can make another one for you: A comparison table for "judging good or bad as soon as the data comes out" For example: What M2 growth rate is considered high, what social financing is considered strong, how to interpret the M1-M2 scissors gap. (Note: Some content of this document may be AI-generated)"
datetime: "2026-03-14T01:05:07.000Z"
locales:
  - [en](https://longbridge.com/en/topics/39261301.md)
  - [zh-CN](https://longbridge.com/zh-CN/topics/39261301.md)
  - [zh-HK](https://longbridge.com/zh-HK/topics/39261301.md)
author: "[果毅力行](https://longbridge.com/zh-CN/profiles/7166467.md)"
---

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# Macroeconomic Core Indicators Cheat Sheet Making y…