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

????????:??