?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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