??????????2???6?? ??,??????????????,2025????1?????PMI????????????????50%,?????0.5????????,?????????3??????,2025??????????1???????????,????????PMI?,????????????????13?????50%????;?PMI?????50%??,?????????????9?????50%???;????PMI???PMI????????,?????50%??

??,??????,????????????????,?,??,?????????????????,?????,?????;??????????,??????????????

?????2025??????,??2025???????????????«??»?????????2025?????????3.3%,?????????????????????2024????????????10??0.1???????????????????????«2025??»????????2025??2.8%,??2024????????????????????????

?????,????????????????????????????????,???;????,????;??????2025?????????,????????????????????????????????????2025?,??????

?,PMI??????????????

2025?????1??????,?PMI??47.8%,??????1????????????????????,????2?????,????????????????????????????PMI?????52%?;???????PMI????????????????????????????,?????50%?????????;????????PMI???????,??50%???

?????,??????????PMI????,?????48%???????????????,??,???????????????????????,2024??????(GDP)??????????????0.2%,????????????2025?0.3%,??????1.1%???????????????,??2025??1.1%?0.9%??????,??????,?????????,??????????????,?????6???????????????????????

????????????????????????????????,PMI??50%???????????

2025?????1??,??PMI?????????????????????????50.9%,??1.3???????????,?3????,?????50%?????????,?????????,???????PMI??,????????50%?????,????????PMI????????,????????50%??????

????????????????PMI????PMI????????ISM???????????????????????????,2025??1???,????PMI?50.9%,????????????????????49.2%??1.7????????????,??????????????????????3????,?,??????????,?,????????52%??????????,???????????2?????????????????????????4.25%-4.5%?????,????CPI??????????3%??????????????????????2024????????12?????,????CPI?? 2.9%?

??,PMI?50%?????

2025????1??????????????????????????????????????,?????????PMI????????????49.4%,?????0.8???????????????????,?????PMI????????,?????52%,?PMI???????50%???,??????????PMI????4?,?????46%????????????????,?????????????PMI????

?????,?????,??????,??????????????????????????????,???????,????????????????????????????,??????????,????????,???????2025??????4.3%? ??????????????

??????????,PMI?

2025????????1?,???????????????PMI??????50.7%,?????0.4??,????13??50%?????????????,????????????????,??????????PMI???????????????????PMI????????????????????????57%??????????????????,??????????????????????????????????????PMI?50%??????;????????PMI?????????50%????????PMI?????????,???????50%??;???????????PMI?????????,?????????50%???

???????????????,????,?,??????????????????????????????????,????????????«????????????????»??2025???????4.6%,?2024??10??0.1??????

??????:??????

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