?1????27?????????? ??,1?????????????????27???????????????????????,?????????????????????,????,2025?????????1???

1??,???????????????????,????????49.1%,???????1.0??????;????????50.2%,?2.0?????????????,????;????????????????????????????PMI?50.1%,???????????55.3%?56.7%,?,???????

????,???????????

1?????????,????PMI?????????????????????????????49.1%,?????????

(?)???????????????????,???????????49.8%???????????????49.2%,?2.3?????????????1.8??,????????,????????????????????????????????????51.5%,????;???????????????????????????????????????????,????

(?????)???????????????PMI??49.9%?49.5%??????????????????46.5%,?????????0.6?1.2???????2.0??????????????????????????,?51.3%??????????????????????????????????50.6%,?;????????

(????????)?????????????,???PMI????????????????????50.2%,?????0.4?????,?????6??;???????????????????????????PMI??49.3%?49.1%???????47.6%,??0.4?2.3?????1.2?????,??????????

(?)???????????49.5%????47.4%,???1.3?????????0.7????????,??????????,???????????????????????????????????,??

(??????)????????????????????????55.3%,?????????2.0?????????,????????,??????????,????????60.0%????,???????????????????????????

?

1?????,?????????????50.2%,?2.0?????,???????????,???????????

(???????????)?????50.3%,???????????????????1.7??????????,?????????????????,????????????????,????????????????,???????????????;??????????????????????????????????????????55.0%?,???,?????56.8%,??????,???????????????

(??????????)???????,?????????????????????????????,?????????????????49.3%,???????????????????,?????56.5%,????0.6?,?,???????

????PMI????????

1????????????????????,??????PMI????50.1%,????2.1??????????????????,??,????????????PMI??????????????49.8%?50.2%? ???????????:??????????????? “????????????”????

?? ????????????????:2025?1?????

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

2???????

3????????

4???????

5???500???????

?1????27?????????? ??,1?????????????????27???????????????????????,?????????????????????,????,2025?????????1???

1??,???????????????????,????????49.1%,???????1.0??????;????????50.2%,?2.0?????????????,????;????????????????????????????PMI?50.1%,???????????55.3%?56.7%,?,???????

????,???????????

1?????????,????PMI?????????????????????????????49.1%,?????????

(?)???????????????????,???????????49.8%???????????????49.2%,?2.3?????????????1.8??,????????,????????????????????????????????????51.5%,????;???????????????????????????????????????????,????

(?????)???????????????PMI??49.9%?49.5%??????????????????46.5%,?????????0.6?1.2???????2.0??????????????????????????,?51.3%??????????????????????????????????50.6%,?;????????

(????????)?????????????,???PMI????????????????????50.2%,?????0.4?????,?????6??;???????????????????????????PMI??49.3%?49.1%???????47.6%,??0.4?2.3?????1.2?????,??????????

(?)???????????49.5%????47.4%,???1.3?????????0.7????????,??????????,???????????????????????????????????,??

(??????)????????????????????????55.3%,?????????2.0?????????,????????,??????????,????????60.0%????,???????????????????????????

?

1?????,?????????????50.2%,?2.0?????,???????????,???????????

(???????????)?????50.3%,???????????????????1.7??????????,?????????????????,????????????????,????????????????,???????????????;??????????????????????????????????????????55.0%?,???,?????56.8%,??????,???????????????

(??????????)???????,?????????????????????????????,?????????????????49.3%,???????????????????,?????56.5%,????0.6?,?,???????

????PMI????????

1????????????????????,??????PMI????50.1%,????2.1??????????????????,??,????????????PMI??????????????49.8%?50.2%? ???????????:???????????????