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

??:???????????? ??“??????wx”????

?? 2025???????1?PMI?50% ??????3??

????:1???????wx:????95?98?

2?????

3?????

4???????????

5???98????

?????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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