欧元区：制造业复苏面临能源风险 – ABN AMRO

欧元区：制造业复苏面临能源风险 – ABN AMRO

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ABN AMRO预计，受国内需求回升和德国国防相关活动增强的推动，欧元区和德国的工业生产将出现反弹。然而，它预计德国工厂订单在2025年底后将出现回落

ABN AMRO预计，欧元区和德国的工业生产将反弹，得益于国内需求的恢复和德国国防相关活动的增强。然而，该行预计德国工厂订单在2025年末的强劲表现后将出现回落。总体而言，该行认为制造业正处于复苏轨道，但注意到来自能源价格上涨的新阻力可能会减缓动能。

工业产出预计谨慎反弹

"欧元区 - 德国及更广泛的欧元区工业生产可能已经反弹，反映出国内需求的近期恢复，尤其是来自德国国防部门的需求。"

"话虽如此，德国的工厂订单在2025年最后几个月订单激增后，预计在1月份将出现回落。"

"从大局来看，制造业仍然处于复苏轨道，尽管面临来自能源价格上涨的新阻力。"

(本文由人工智能工具生成，并经过编辑审核。)

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