捷克10年期国债 (CzechRepublic10Y) 加自选

标准普尔全球捷克制造业采购经理人指数从6月份的50.2降至2025年7月的49.7，低于市场预期的50.2。这表明经营状况再次恶化，主要是由于就业大幅下降。裁员速度加快，为4月以来最快。产出和新订单继续增长，尽管速度缓慢，而新出口订单进一步下降。供应商交货时间也再次延长。因此，公司面临着解决积压问题的挑战。此外，随着企业优先考虑库存优化和成本削减举措，投入采购和采购库存下降。关于价格，投入成本以六个月来最慢的速度上涨，而随着企业寻求保持竞争力，产出费用下降。尽管对未来产量的预期仍处于历史高位，但由于地缘政治和经济的不确定性，商品生产商的信心跌至三个月低点。

The S&P Global Czechia Manufacturing PMI fell to 49.7 in July 2025 from 50.2 in June, missing market expectations of 50.2 This indicated a renewed deterioration in operating conditions, largely due to a sharper drop in employment. The rate of job shedding accelerated and was the fastest since April. Output and new orders continued to rise albeit at a modest pace, while new export orders dropped further. Supplier delivery times also lengthened once again. Consequently, firms faced challenges working through their backlogs. In addition, input buying and stocks of purchases fell as firms prioritized inventory optimization and cost-cutting initiatives. Regarding prices, input costs rose at the slowest pace in six months, while output charges decreased as firms sought to remain competitive. Despite expectations for future output remaining historically high, confidence among goods producers slipped to a three-month low, amid geopolitical and economic uncertainty.

据初步估计，捷克共和国的国内生产总值（GDP）在2025年第二季度环比增长0.2%，低于市场预期的0.4%的增长，比上一季度0.7%的增长有所放缓。这标志着自2024年第一季度以来最疲软的季度增长，放缓主要归因于外贸平衡的负面贡献。从更积极的方面来看，家庭最终消费继续增长，连续第四个季度实现增长。按年度计算，捷克经济在2025年第二季度增长了2.4%，与上一季度持平。年度增长主要是由强劲的国内需求推动的，特别是家庭消费和资本形成总额。

The Czech Republic's gross domestic product (GDP) grew by 0.2% quarter-on-quarter in the second quarter of 2025, missing market expectations of a 0.4% gain and slowing from a 0.7% expansion recorded in the previous quarter, according to preliminary estimates. This marked the weakest quarterly growth since Q1 2024, with the slowdown largely attributed to a negative contribution from the foreign trade balance. On a more positive note, household final consumption continued to increase, marking its fourth consecutive quarter of growth. On a yearly basis, the Czech economy expanded by 2.4% in Q2 2025, matching the pace seen in the preceding quarter. The annual growth was driven primarily by strong domestic demand, particularly household consumption and gross capital formation.

PX指数升至2204.00点的历史高点。在过去的4周里，布拉格证券交易所上涨了2.73%，在过去的12个月里，上涨了37.39%。

PX increased to an all-time high of 2204.00 Index Points. Over the past 4 weeks, Prague Stock Exchange gained 2.73%, and in the last 12 months, it increased 37.39%.

捷克共和国的消费者信心指数从前一个月的100.7升至2025年7月的104.1。这是自2021年9月以来的最高读数，因为预计捷克共和国未来12个月整体经济形势将恶化的消费者数量环比下降。此外，预计明年财务状况会改善的家庭比例保持稳定。约26%的家庭表示勉强维持生计，不到10%的家庭依靠储蓄，3%的家庭需要借钱来支付家庭开支。另一方面，大约60%的家庭表示他们每月都能省钱。不打算在未来12个月内进行重大采购的受访者比例略有下降。最后，与上月相比，对未来一年失业率和通货膨胀率上升的担忧有所增加。

The consumer confidence indicator in the Czech Republic rose to 104.1 in July 2025 from 100.7 in the previous month. This marked the highest reading since September 2021, as the number of consumers expecting the overall economic situation in the Czech Republic to deteriorate over the next twelve months decreased month-on-month. Additionally, the share of households expecting their financial situation to improve over the next year remained stable. Around 26% of households reported barely making ends meet, with less than 10% relying on savings and 3% needing to borrow money to cover household expenses. On the other hand, approximately 60% of households stated that they manage to save money each month. The proportion of respondents who do not plan to make major purchases in the next twelve months decreased slightly. Lastly, concerns about rising unemployment and inflation over the coming year increased compared to the previous month.