{"id":8895,"date":"2025-09-24T12:39:39","date_gmt":"2025-09-24T02:39:39","guid":{"rendered":"https:\/\/www.ad-fx.com\/pmi\/"},"modified":"2026-03-31T15:32:34","modified_gmt":"2026-03-31T04:32:34","slug":"pmi","status":"publish","type":"post","link":"https:\/\/www.adfxzh.com\/zh-hant\/blog\/pmi\/","title":{"rendered":"PMI \u7684\u529b\u91cf\uff1a\u628a\u7d93\u6fdf\u6578\u64da\u8f49\u5316\u70ba\u4ea4\u6613\u7b56\u7565"},"content":{"rendered":"\n<h2 class=\"wp-block-heading\" id=\"h-\u4ec0\u9ebc\u662fpmi\u6578\u64da-\u7406\u89e3pmi\u7684\u91cd\u8981\u6027\">\u4ec0\u9ebc\u662fPMI\u6578\u64da\uff1f\u7406\u89e3PMI\u7684\u91cd\u8981\u6027 <\/h2>\n\n\n\n<p>PMI\u6578\u64da\u662f\u91d1\u878d\u5e02\u5834\u4e0a\u8861\u91cf\u7d93\u6fdf\u5065\u5eb7\u548c\u5546\u696d\u4fe1\u5fc3\u6700\u53d7\u95dc\u6ce8\u7684\u6307\u6a19\u4e4b\u4e00\u3002\u5b83\u901a\u5e38\u80fd\u5920\u70ba\u88fd\u9020\u696d\u548c\u670d\u52d9\u696d\u7684\u8da8\u52e2\u63d0\u4f9b\u65e9\u671f\u6d1e\u5bdf\uff0c\u5e6b\u52a9\u6295\u8cc7\u8005\u3001\u5206\u6790\u5e2b\u548c\u4ea4\u6613\u8005\u8a55\u4f30\u7d93\u6fdf\u6d3b\u52d5\u3002 <\/p>\n\n\n\n<p>\u7121\u8ad6\u4f60\u662f\u4ea4\u6613\u8005\u9084\u662f\u6295\u8cc7\u8005\uff0c\u7406\u89e3PMI\u90fd\u6709\u52a9\u65bc\u4f60\u9810\u6e2c\u7d93\u6fdf\u52d5\u80fd\u7684\u8b8a\u5316\uff0c\u4e26\u76f8\u61c9\u8abf\u6574\u4f60\u7684\u7b56\u7565\u3002<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-\u4ec0\u9ebc\u662fpmi\">\u4ec0\u9ebc\u662fPMI\uff1f<\/h2>\n\n\n\n<p>PMI \u662f \u63a1\u8cfc\u7d93\u7406\u4eba\u6307\u6578 (Purchasing Managers\u2019 Index) \u7684\u7e2e\u5beb\u2014\u2014\u9019\u662f\u4e00\u500b\u53cd\u6620\u88fd\u9020\u696d\u548c\u670d\u52d9\u696d\u7d93\u6fdf\u6d3b\u52d5\u7684\u95dc\u9375\u6307\u6a19\u3002\u901a\u904e\u5c0d\u63a1\u8cfc\u7d93\u7406\u7684\u6708\u5ea6\u8abf\u67e5\u7de8\u5236\u800c\u6210\uff0c\u5b83\u53cd\u6620\u4e86\u5728\u7279\u5b9a\u6642\u671f\u5167\u5546\u696d\u72c0\u6cc1\u7684\u8b8a\u5316\u3002 <\/p>\n\n\n\n<p>PMI\u6700\u521d\u8a95\u751f\u65bc\u7f8e\u570b\uff0c\u5982\u4eca\u5df2\u5728\u5305\u62ec\u6b50\u76df\u548c\u4e9e\u6d32\u5728\u5167\u7684\u4e3b\u8981\u7d93\u6fdf\u9ad4\u4e2d\u5ee3\u6cdb\u4f7f\u7528\u3002<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-pmi\u662f\u5982\u4f55\u8a08\u7b97\u7684\">PMI\u662f\u5982\u4f55\u8a08\u7b97\u7684\uff1f<\/h2>\n\n\n\n<p>\u96d6\u7136\u4e0d\u540c\u570b\u5bb6\u548c\u5730\u5340\u7684\u65b9\u6cd5\u53ef\u80fd\u7565\u6709\u4e0d\u540c\uff0c\u4f46PMI\u7684\u6838\u5fc3\u7de8\u5236\u7d50\u69cb\u57fa\u672c\u985e\u4f3c\u3002\u4ee5\u7f8e\u570b\u70ba\u4f8b\uff0c\u7f8e\u570b\u4f9b\u61c9\u7ba1\u7406\u5354\u6703 (ISM) \u767c\u4f48\u7684PMI\u662f\u5168\u7403\u6700\u5177\u5f71\u97ff\u529b\u7684\u6307\u6a19\u4e4b\u4e00\u3002 <\/p>\n\n\n\n<p>PMI\u7684\u8a08\u7b97\u57fa\u65bc\u8abf\u67e5\u554f\u5377\u3002\u7de8\u5236\u65b9\u6703\u5411\u5404\u500b\u884c\u696d\uff08\u6db5\u84cb\u5404\u7a2e\u898f\u6a21\u7684\u4f01\u696d\uff09\u5206\u767c\u554f\u5377\uff0c\u4e26\u6536\u96c6\u95dc\u65bc\u7279\u5b9a\u7d93\u6fdf\u7d44\u6210\u90e8\u5206\u7684\u6578\u64da\u3002\u7136\u5f8c\uff0c\u9019\u4e9b\u6578\u64da\u6703\u7528\u65bc\u8a08\u7b97\u5404\u500b\u884c\u696d\u7684\u64f4\u6563\u6307\u6578\u3002  <\/p>\n\n\n\n<p>\u6700\u5f8c\uff0c\u9019\u4e9b\u884c\u696d\u6307\u6578\u6703\u6839\u64da\u5176\u5728GDP\u4e2d\u7684\u8ca2\u737b\u52a0\u6b0a\uff0c\u5f97\u51fa\u7e3d\u9ad4PMI\u3002<\/p>\n\n\n\n<p>\u5728\u7f8e\u570b\uff0cISM\u767c\u4f48\u7684PMI\u4e3b\u8981\u5206\u70ba\u5169\u985e\uff1a<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>\u88fd\u9020\u696dPMI<\/strong><\/li>\n\n\n\n<li><strong>\u670d\u52d9\u696dPMI<\/strong><\/li>\n<\/ul>\n\n\n\n<p>\u96d6\u7136\u6bcf\u4efd\u8abf\u67e5\u6db5\u84cb\u5927\u7d0410\u500b\u7d44\u6210\u90e8\u5206\uff0c\u4f46\u53ea\u6709\u90e8\u5206\u95dc\u9375\u6307\u6a19\u6703\u88ab\u7d0d\u5165PMI\u7684\u8a08\u7b97\u3002<br><br><\/p>\n\n\n\n<p>\u4ee5\u4e0b\u662f\u5169\u985ePMI\u6d89\u53ca\u7684\u884c\u696d\u548c\u8abf\u67e5\u7d44\u4ef6\u6458\u8981\uff1a<\/p>\n\n\n\n<figure class=\"wp-block-table\"><table class=\"has-fixed-layout\"><tbody><tr><td><strong>PMI\u985e\u578b<\/strong><\/td><td><strong>\u884c\u696d\u90e8\u9580<\/strong><\/td><td><strong>\u8abf\u67e5\u7d44\u4ef6<\/strong><\/td><\/tr><tr><td>\u88fd\u9020\u696dPMI<\/td><td>\u98df\u54c1\u8207\u83f8\u8349\u3001\u7d21\u7e54\u8207\u670d\u88dd\u3001\u4ea4\u901a\u8a2d\u5099\u3001\u539f\u6cb9\u8207\u80fd\u6e90\u3001\u96fb\u6c23\u8207\u6a5f\u68b0\u8a2d\u5099\u3001\u91d1\u5c6c\u88fd\u54c1\u7b49<\/td><td>\u65b0\u8a02\u55ae\u3001\u7522\u51fa\u3001\u5c31\u696d\u3001\u5eab\u5b58\u3001\u4f9b\u61c9\u5546\u4ea4\u8ca8\u6642\u9593<\/td><\/tr><tr><td>\u670d\u52d9\u696dPMI<\/td><td>\u4ea4\u901a\u8207\u901a\u4fe1\u3001\u91d1\u878d\u670d\u52d9\u3001IT\u8207\u8cc7\u8a0a\u670d\u52d9\u3001\u9152\u5e97\u696d\u3001\u5176\u4ed6\u500b\u4eba\u53ca\u5546\u696d\u670d\u52d9<\/td><td>\u5546\u696d\u6d3b\u52d5\u3001\u65b0\u8a02\u55ae\u3001\u5c31\u696d\u3001\u4f9b\u61c9\u5546\u4ea4\u8ca8\u6642\u9593<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-\u5982\u4f55\u89e3\u8b80pmi\">\u5982\u4f55\u89e3\u8b80PMI\uff1f<\/h2>\n\n\n\n<p>PMI\u6bcf\u6708\u7de8\u5236\u4f75\u767c\u5e03\uff0c\u8ffd\u8e64\u76f8\u95dc\u884c\u696d\u7522\u80fd\u548c\u7d93\u6fdf\u6d3b\u52d5\u7684\u8b8a\u5316\u3002<\/p>\n\n\n\n<p>\u5728\u7f8e\u570b\uff0c\u88fd\u9020\u696dPMI\u901a\u5e38\u5728\u6bcf\u6708\u7684\u7b2c\u4e00\u500b\u5de5\u4f5c\u65e5\u767c\u4f48\uff0c\u670d\u52d9\u696dPMI\u5247\u5728\u7b2c\u4e09\u500b\u5de5\u4f5c\u65e5\u767c\u4f48\u3002 <\/p>\n\n\n\n<p>PMI\u7684\u6578\u503c\u4ecb\u65bc0\u5230100\u4e4b\u9593\uff0c50\u662f\u69ae\u67af\u5206\u754c\u7dda\uff1a<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>PMI\u9ad8\u65bc50\uff0c\u8868\u793a\u7d93\u6fdf\u64f4\u5f35<\/li>\n\n\n\n<li>PMI\u4f4e\u65bc50\uff0c\u8868\u793a\u7d93\u6fdf\u6536\u7e2e<\/li>\n<\/ul>\n\n\n\n<p>\u9664\u4e86PMI\u7684\u5be6\u969b\u8b80\u6578\uff0c\u74b0\u6bd4\u8b8a\u5316\u4ee5\u53ca\u8207\u5e02\u5834\u9810\u671f\u7684\u5dee\u7570\u4e5f\u5099\u53d7\u95dc\u6ce8\uff1a<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>\u5982\u679cPMI\u4f4e\u65bc\u9810\u671f\u6216\u8f03\u4e0a\u6708\u4e0b\u964d\uff0c\u610f\u5473\u8457\u7d93\u6fdf\u524d\u666f\u8d70\u5f31<\/li>\n\n\n\n<li>\u5982\u679cPMI\u9ad8\u65bc\u9810\u671f\u6216\u986f\u793a\u589e\u9577\uff0c\u53cd\u6620\u7d93\u6fdf\u64f4\u5f35<\/li>\n<\/ul>\n\n\n\n<p>\u4ea4\u6613\u8005\u548c\u6295\u8cc7\u8005\u901a\u5e38\u6703\u901a\u904e\u7d93\u6fdf\u65e5\u66c6\u4f86\u8ddf\u8e64\u4e0d\u540c\u570b\u5bb6\u548c\u5730\u5340\u7684PMI\u767c\u4f48\u60c5\u6cc1\u3002<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-pmi\u6578\u64da\u7684\u5f71\u97ff\">PMI\u6578\u64da\u7684\u5f71\u97ff<\/h2>\n\n\n\n<p>\u96d6\u7136PMI\u7684\u5e02\u5834\u5f71\u97ff\u529b\u53ef\u80fd\u4e0d\u5982\u975e\u8fb2\u5c31\u696d\u6578\u64da (NFP) \u6216\u6d88\u8cbb\u8005\u50f9\u683c\u6307\u6578 (CPI) \u90a3\u9ebc\u5287\u70c8\uff0c\u4f46\u5b83\u4f9d\u7136\u662f\u4e00\u500b\u91cd\u8981\u7684\u524d\u77bb\u6027\u6307\u6a19\uff0c\u5177\u6709\u5f88\u5f37\u7684\u9810\u6e2c\u50f9\u503c\uff0c\u4e26\u4e14\u8207\u5176\u4ed6\u7d93\u6fdf\u6307\u6578\u9ad8\u5ea6\u76f8\u95dc\u3002 <\/p>\n\n\n\n<p>\u592e\u884c\u3001\u6295\u8cc7\u8005\u548c\u5e02\u5834\u5206\u6790\u5e2b\u6703\u5bc6\u5207\u95dc\u6ce8PMI\u6578\u64da\uff0c\u4ee5\u8a55\u4f30\u7d93\u6fdf\u52d5\u80fd\u548c\u6f5b\u5728\u7684\u653f\u7b56\u8d70\u5411\u3002<\/p>\n\n\n\n<p>\u4f8b\u5982\uff1a<\/p>\n\n\n\n<ol class=\"wp-block-list\">\n<li>2.\u96a8\u5f8c\uff0c\u96a8\u8457\u964d\u606f\u653f\u7b56\u5be6\u65bd\uff0cPMI\u56de\u5347\u81f350\u4ee5\u4e0a\uff0c\u986f\u793a\u5fa9\u8607\u8de1\u8c61\u3002\u8207\u6b64\u540c\u6642\uff0c\u7f8e\u570b\u80a1\u5e02\uff08\u5982\u6a19\u666e500\u6307\u6578\uff09\u958b\u59cb\u4e0a\u5347\uff0c\u53cd\u6620\u4e86\u6295\u8cc7\u8005\u4fe1\u5fc3\u548c\u7d93\u6fdf\u6a02\u89c0\u60c5\u7dd2\u7684\u6539\u5584\u3002 <\/li>\n\n\n\n<li>2.\u96a8\u5f8c\uff0c\u96a8\u8457\u964d\u606f\u653f\u7b56\u5be6\u65bd\uff0cPMI\u56de\u5347\u81f350\u4ee5\u4e0a\uff0c\u986f\u793a\u5fa9\u8607\u8de1\u8c61\u3002\u8207\u6b64\u540c\u6642\uff0c\u7f8e\u570b\u80a1\u5e02\uff08\u5982\u6a19\u666e500\u6307\u6578\uff09\u958b\u59cb\u4e0a\u5347\uff0c\u53cd\u6620\u4e86\u6295\u8cc7\u8005\u4fe1\u5fc3\u548c\u7d93\u6fdf\u6a02\u89c0\u60c5\u7dd2\u7684\u6539\u5584\u3002 <\/li>\n<\/ol>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-\u70ba\u4ec0\u9ebcpmi\u5c0d\u91d1\u878d\u5e02\u5834\u5f88\u91cd\u8981\">\u70ba\u4ec0\u9ebcPMI\u5c0d\u91d1\u878d\u5e02\u5834\u5f88\u91cd\u8981\uff1f<\/h2>\n\n\n\n<p>\u96d6\u7136PMI\u672a\u5fc5\u50cf\u975e\u8fb2\u5c31\u696d\u6216\u901a\u8139\u6578\u64da\u90a3\u6a23\u7acb\u5373\u5f15\u767c\u5287\u70c8\u6ce2\u52d5\uff0c\u4f46\u5b83\u5728\u5851\u9020\u5b8f\u89c0\u7d93\u6fdf\u524d\u666f\u65b9\u9762\u626e\u6f14\u8457\u95dc\u9375\u89d2\u8272\uff0c\u5c24\u5176\u662f\u5728\u7d93\u6fdf\u4e0d\u78ba\u5b9a\u6216\u8f49\u578b\u6642\u671f\u3002<\/p>\n\n\n\n<p>PMI\u6578\u64da\u5e6b\u52a9\u6295\u8cc7\u8005\u548c\u653f\u7b56\u5236\u5b9a\u8005\u6bd4\u8a31\u591a\u6eef\u5f8c\u6307\u6a19\u66f4\u65e9\u767c\u73fe\u5546\u696d\u9031\u671f\u7684\u62d0\u9ede\u3002 <\/p>\n\n\n\n<ul 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