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

??

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

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

?????????

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

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