马其他股票指数 (MSE) 加自选

2025年9月，马耳他工业生产同比下降1.3%，扭转了上个月向上修正的5.3%的增长。这标志着自2024年7月以来工业活动首次下降，制造业产出下降（-2.3%对8月份的6.7%），特别是其他制造业（-11.7%）、化学和制药产品（-8.1%）以及橡胶和其他非金属矿产品（-0.7%）。在主要工业集团中，资本品（-12.2%对17.8%）和消费品（-7.3%对-3.4%）的产量下降，而中间产品的增长放缓（8.8%对13.2%）。不包括能源在内，工业产出在上个月增长6.6%后下降了2.2%。经季节性调整的月度数据显示，9月份工业活动下降1.6%，8月份向下修正增长1.0%。

Malta’s industrial production decreased by 1.3% year-on-year in September 2025, reversing an upwardly revised 5.3% growth in the previous month. This marked the first decline in industrial activity since July 2024, as manufacturing output dropped (-2.3% vs 6.7% in August), notably in other manufacturing (-11.7%), chemical and pharmaceutical products (-8.1%), and rubber and other non-metallic mineral products (-0.7%). Across main industrial groupings, production declined for capital goods (-12.2% vs 17.8%) and consumer goods (-7.3% vs -3.4%), while growth slowed for intermediate goods (8.8% vs 13.2%). Excluding energy, industrial output fell by 2.2%, after a 6.6% increase in the prior month. On a seasonally adjusted monthly basis, industrial activity dropped by 1.6% in September, following a downwardly revised 1.0% gain in August.

继上个月持平之后，马耳他的生产者价格指数在2025年9月同比上涨0.1%。资本品（5.0%对8月份的3.0%）和消费品（1.2%对1.0%）的成本增长速度更快，尤其是非耐用品（1.2%对1.1%）。相比之下，中间产品的通货紧缩仍在继续（-2.9%对-2.5%），而能源部门的成本保持不变。按月计算，9月份生产者价格指数上涨0.6%，从前一时期0.7%的跌幅反弹。

Malta’s producer prices edged up by 0.1% year-on-year in September 2025, following a flat reading in the previous month. Costs increased at a faster pace for capital goods (5.0% vs 3.0% in August) and consumer goods (1.2% vs 1.0%), particularly for non-durable goods (1.2% vs 1.1%). In contrast, deflation continued for intermediate goods (-2.9% vs -2.5%), while costs in the energy sector remained unchanged. On a monthly basis, producer prices rose 0.6% in September, rebounding from a 0.7% fall in the preceding period.

马耳他的年通货膨胀率从上个月的2.7%小幅降至2025年9月的2.4%，为3月以来的最低水平。食品和非酒精饮料（8月份为3.5%对4%）、酒精饮料和烟草（1.7%对2%）、餐馆和酒店（3.4%对3.5%）以及交通（2.3%对3.4%）的通货膨胀有所缓解。服装和鞋类的价格也有所下降（-0.7%对2.7%），通信的价格也进一步下降（-3.4%对-3.1%）。与此同时，住房和公用事业（0.7%）、家具、家用设备和日常家居维护（1.7%）、健康（2.8%）、娱乐和文化（2.4%）以及教育（5.2%）的价格保持不变。相比之下，杂项商品和服务的通货膨胀率上升（3.7%对3.4%）。按月计算，9月份消费者价格指数下跌1.3%，扭转了8月份0.7%的涨幅。

Malta’s annual inflation rate inched down to 2.4% in September 2025 from 2.7% in the previous month, marking the lowest reading since March. Inflation eased for food and non-alcoholic beverages (3.5% vs 4% in August), alcoholic beverages and tobacco (1.7% vs 2%), restaurants and hotels (3.4% vs 3.5%), and transport (2.3% vs 3.4%). Prices also declined for clothing and footwear (-0.7% vs 2.7%) and further for communication (-3.4% vs -3.1%). Meanwhile, prices remained unchanged for housing and utilities (0.7%), furnishings, household equipment and routine household maintenance (1.7%), health (2.8%), recreation and culture (2.4%), and education (5.2%). In contrast, inflation rose for miscellaneous goods and services (3.7% vs 3.4%). On a monthly basis, consumer prices fell by 1.3% in September, reversing a 0.7% rise in August.

马耳他的贸易逆差从一年前的8.811亿欧元和7月份的9.04亿欧元大幅收窄至2025年8月的3.268亿欧元。进口同比下降44.8%，至7.237亿欧元，主要原因是资本货物和其他物品（-78.2%）、燃料和润滑油（-18.2%）以及工业用品（-3.9%）的购买量大幅下降。相比之下，受食品和饮料流入增加的推动，消费品进口增长了6.4%。出口下降速度较慢，下降7.9%，至3.969亿欧元，主要受工业用品（-14.0%）、燃料和润滑油（-12.0%）以及资本货物和其他（-14.2%）销售下降的影响。然而，消费品出口激增10.5%。2025年前八个月，贸易逆差从2024年同期的35.1亿欧元收窄至32.4亿欧元。

Malta’s trade deficit narrowed sharply to EUR 326.8 million in August 2025 from a revised EUR 881.1 million a year earlier and a record EUR 904.0 million in July. Imports fell 44.8% year-on-year to EUR 723.7 million, driven by steep declines in purchases of capital goods and other items (-78.2%), fuels and lubricants (-18.2%), and industrial supplies (-3.9%). In contrast, imports of consumer goods rose 6.4%, boosted by higher food and beverage inflows. Exports decreased at a slower pace, down 7.9% to EUR 396.9 million, weighed by lower sales of industrial supplies (-14.0%), fuels and lubricants (-12.0%), and capital goods and others (-14.2%). Exports of consumer goods, however, surged 10.5%. For the first eight months of 2025, the trade deficit narrowed to EUR 3.24 billion from EUR 3.51 billion in the same period of 2024.