欧元区的增长在2025年12月放缓,制造业合同和服务疲软,尽管通货膨胀仍然接近目标。 Eurozone growth slowed in December 2025, with manufacturing contracting and services tepid, though inflation stayed near target.

欧元区的商业活动在2025年12月放缓,综合PMI下降到51.9,低于预测,即制造业连续第五个月承包,达到三个月的最低49.2。 Eurozone business activity slowed in December 2025, with the composite PMI falling to 51.9, below forecasts, as manufacturing contracted for the fifth straight month, hitting a three-month low of 49.2. 德国的制造业部门恶化,而法国则表现出稳定的迹象。 Germany’s manufacturing sector worsened, while France showed signs of stabilization. 服务增长速度较慢,PMI为52.6,但仍高于扩展门槛值。 Services grew at a slower pace, with its PMI at 52.6, still above expansion threshold. 就业率上升,但商业信心下降到五个月的最低点。 Employment rose, but business confidence dropped to a five-month low. 服务的成本压力在工资的驱动下达到了九个月的高水平。 Cost pressures in services hit a nine-month high, driven by wages. 尽管增长较软,通货膨胀仍然接近欧洲央行2%的目标,这支持了利率至少到2027年将保持不变的预期。 Despite softer growth, inflation remains near the ECB’s 2% target, supporting expectations that interest rates will stay unchanged at least through 2027.