奥地利的失业率从去年同期的6.8%攀升至2025年4月的7.3%。失业人数比上年增加24.3万人，达到31.18万人。与上一时期相比，失业人员减少了4500人。

The unemployment rate in Austria climbed to 7.3% in April 2025 from 6.8% in the corresponding month of the previous year. The number of unemployed persons grew by 24.3 thousand from a year earlier to 311.8 thousand. Compared to the previous period, unemployed persons decreased by 4.5 thousand.

HCOB意大利制造业采购经理人指数从上个月的46.6升至2025年4月的49.3，高于市场预测的47，表明工厂活动出现了八个月来最温和的收缩。4月份新订单小幅下降，为过去13个月来最低降幅。出口订单也再次下降，部分原因是持续的关税不确定性，尽管与3月份相比下降速度有所放缓。与此同时，就业人数连续第七个月下降，但裁员率并不高。

The HCOB Italy Manufacturing PMI rose to 49.3 in April 2025, from 46.6 in the prior month and above market forecasts of 47, pointing to the softest contraction in factory activity in eight months. New orders declined at a marginal pace in April, marking the slowest decline in the past 13 months. Export orders also fell again, partly due to ongoing tariff uncertainty, though the rate of decline eased compared to March. Meanwhile, employment continued to fall for the seventh month running, but the rate of job shedding was only modest.

2025年4月，美国经济可能增加了13万个工作岗位，比3月份的22.8万个增长有所放缓，部分原因是不合时宜的温暖天气带来的提振作用减弱，以及唐纳德·特朗普总统激进的关税政策带来的不确定性增加。失业率预计将稳定在4.2%，而工资增长预计将略微放缓至3.8%。然而，劳工部备受关注的就业报告可能会被视为回顾性的，可能无法提供当前经济轨迹的清晰图景。此前，令人失望的GDP数据显示，美国经济在第一季度出现萎缩，主要是由于新关税出台前进口激增，这一发展，再加上劳动力市场降温的迹象，可能会促使美联储在6月降息。

The U.S. economy likely added 130,000 jobs in April 2025, a slowdown from the 228,000 gain recorded in March, partly attributed to the diminishing boost from unseasonably warm weather and growing uncertainty stemming from President Donald Trump’s aggressive tariff policies. The unemployment rate is expected to remain steady at 4.2%, while wage growth is projected to ease slightly to 3.8%. However, the Labor Department’s closely watched employment report is likely to be viewed as backward-looking and may not provide a clear picture of the economy’s current trajectory. It also follows disappointing GDP data showing the U.S. economy contracted in the first quarter largely due to a surge in imports ahead of new tariffs, a development that, combined with signs of a cooling labor market, could prompt the Federal Reserve to cut interest rates in June.

HCOB欧元区制造业采购经理人指数从上个月的48.6微升至2025年4月的49，反映了两年多来工厂活动收缩速度最慢，并从初步估计的48.7上调。由于欧元在此期间大幅升值以及美国和中国贸易战担忧导致的宏观经济状况疲软，出口订单大幅下降，新订单继续收缩。尽管如此，积压的减少和需求的近乎稳定促使工厂将产量加快到三年来的最高水平。在就业方面，围绕美国关税的风险促使企业削减招聘和裁员。在价格方面，更快的交付周期与自去年11月以来投入成本的首次下降是一致的，尽管产出费用是两年来涨幅最大的。

The HCOB Eurozone Manufacturing PMI inched higher to 49 in April of 2025 from 48.6 in the previous month, reflecting the softest pace of contraction in factory activity in over two years, and revised higher from the preliminary estimate of 48.7. New orders continued to contract amid a sharp decline in export orders, owed to the sharp appreciation of the euro in the period and weak macroeconomic conditions due to trade war concerns in the US and China. Still, backlog reductions and a near stabilization in demand drove factories to accelerate their output to a three-year high. On the employment front, risks surrounding tariffs from the US drove firms to pare back hiring and trim headcounts. On the price front, quicker lead times were consistent with the first drop in input costs since November of last year, although output charges rose the most in two years.