荷兰AEX25指数 (AEX) 加自选

荷兰的年通货膨胀率从9月的3.3%降至2025年10月的3.1%，证实了初步估计。主要的下行压力来自住房和公用事业（4.3%对9月份的4.7%）、服装和鞋类（0.1%对2.7%）、室内装潢和家用电器（0.3%对2%）以及餐馆和酒店（3.9%对5.2%）的通货膨胀急剧放缓。食品和非酒精饮料的通货膨胀率保持不变，为4.3%。另一方面，交通（3.5%对2.2%）和娱乐文化（3.1%对2.4%）的价格增长加快。在9月份下降0.1%之后，消费者价格指数每月上涨0.3%。与此同时，用于欧盟层面比较的不包括住房成本的协调消费者价格指数（HICP）在10月份上涨了3%，与9月份持平。

The annual inflation rate in the Netherlands eased to 3.1% in October 2025 from 3.3% in September, confirming preliminary estimates. The main downward pressure came from a sharp slowdown in inflation for housing and utilities (4.3% vs 4.7% in September), clothing and footwear (0.1% vs 2.7%), upholstery and household appliances (0.3% vs 2%), and restaurants and hotels (3.9% vs 5.2%). Inflation was unchanged for food and non-alcoholic beverages at 4.3%. On the other hand, price growth accelerated for transport (3.5% vs 2.2%) and recreation and culture (3.1% vs 2.4%). On a monthly basis, consumer prices rose 0.3%, following a 0.1% fall in September. Meanwhile, the harmonized consumer price index (HICP), which excludes housing costs and is used for EU-level comparisons, increased 3% in October, unchanged from September.

荷兰10月份消费者价格指数年环比从之前的3.3%降至3.1%。荷兰10月份消费者价格指数年环比从之前的3.3%降至3.1%

Netherlands, The Consumer Price Index n.s.a (YoY) dipped from previous 3.3% to 3.1% in October.Netherlands, The Consumer Price Index n.s.a (YoY) dipped from previous 3.3% to 3.1% in October

2025年9月，荷兰制造业产量环比微涨0.1%，与上月上调的2%相比大幅放缓。尽管如此，这标志着产量连续第二个月增长。电气设备（1.7%对8月份的3.0%）、机械（1.0%对2.5%）和其他制成品（1.7%对3.9%）的增长明显放缓。与此同时，食品（-0.1%对2.4%）、皮革和鞋类（-0.9%对8.0%）、建筑材料（-2.0%对4.0%）、汽车和拖车（-12.2%对5.1%）以及纺织品（-0.2%对-0.5%）的产量均有所下降。相比之下，化学品（0.1%对-0.1%）、药品（10.8%对-5.7%）、基本金属（0.2%对-0.3%）、金属制品（扁平对-0.7%）和家具（1.4%对-3.0%）的生产恢复，而服装（1.0%对0.6%）的生产加速。按年计算，制造业活动增长2.1%，从8月份的持平数据反弹，创下2023年3月以来的最强劲增长。

Manufacturing production in the Netherlands edged up 0.1% month-over-month in September 2025, sharply slowing from an upwardly revised 2% gain in the previous month. Still, it marked the second consecutive monthly increase in output. Growth eased notably for electrical equipment (1.7% vs 3.0% in August), machinery (1.0% vs 2.5%), and other manufactured goods (1.7% vs 3.9%). Meanwhile, output declined for food (-0.1% vs 2.4%), leather and footwear (-0.9% vs 8.0%), building materials (-2.0% vs 4.0%), automotive and trailers (-12.2% vs 5.1%), and textiles (-0.2% vs -0.5%). In contrast, production recovered for chemicals (0.1% vs -0.1%), pharmaceuticals (10.8% vs -5.7%), basic metals (0.2% vs -0.3%), metal products (flat vs -0.7%), and furniture (1.4% vs -3.0%), while accelerating for clothing (1.0% vs 0.6%). On a yearly basis, manufacturing activity expanded 2.1%, rebounding from a flat reading in August and posting the strongest growth since March 2023.

2025年9月，荷兰家庭消费同比增长0.8%，增速低于8月的1.3%，为5月以来的最小增幅。由于食品、饮料和烟草支出下降（-0.3%对0.9%）以及耐用消费品增长放缓（0.2%对2.1%），商品消费几乎停滞（0.1%对8月的1.1%）。另一方面，个人护理产品和能源等其他商品的支出增长了0.4%，这是连续六个月下降后的首次增长。与此同时，服务业的消费增长也从1.4%放缓至1.2%，因为家庭在交通、通信、娱乐和文化方面的支出略有增加。服务支出占家庭总消费的一半以上。追踪影响家庭支出的关键因素的10月份消费雷达显示，在股价上涨和对未来一年更乐观的消费者前景的支持下，9月份的情况有所改善。

Household consumption in the Netherlands rose by 0.8% year-on-year in September 2025, slowing from a 1.3% increase in August, marking the smallest gain since May. Consumption of goods nearly stalled (0.1% vs 1.1% in August), driven by lower spending on food, beverages, and tobacco (-0.3% vs 0.9%), and a slower rise in durable consumer goods (0.2% vs 2.1%). On the other hand, spending on other goods, such as personal care products and energy, increased by 0.4%, the first rise after six consecutive months of declines. Meanwhile, consumption growth for services also eased to 1.2% from 1.4%, as households spent slightly more on transport, communication, recreation, and culture. Spending on services accounts for more than half of total household consumption. The October Consumption Radar, which tracks key factors affecting household spending, indicated improved conditions from September, supported by higher share prices and a more optimistic consumer outlook for the year ahead.