新客户支撑捷克制造业

关键论点

• 捷克工业PMI虽小幅回调，但仍以53.5处于扩张区间，得益于新客户和现有客户需求。
• 就业增速为近四年半来最快，在失业率自2025年初以来逐步上升的背景下构成利好。
• 能源与基础材料涨价推高投入价格压力，但产出价格仅温和上涨，利润率承压。
• 霍尔木兹冲突持续延长交货时间并收紧供应商产能，欧洲柴油价格高企仍是结构性阻力。

对应原文证据

1. The pace of job creation was the fastest in almost four and a half years; this is good news for the Czech economy, as the unemployment rate has been creeping up since early 2025, in line with our view that the service sector's potential is becoming saturated. · 2025
2. Let’s see what happens to the next phase of the emissions allowances trading system (ETS2), which is aimed at small and medium-sized businesses alongside households.