????:1???????:?????????

2?????????

3??????????????

4?????????

5????????

??????????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?????

?????:???