普信集团：2025年年中市场展望报告：后全球化世界的投资（英文版）

Combined with the direct impact of the eurozone’s own trade tensions with the U.S., these secondary impacts from China will likely contribute to slowing growth in Europe in the second half of the year. Inflation should continue to decline in the near term, and while Germany’s debt brake reform will eventually provide a boost to the eurozone economy, this may take some time to materialize. Negotiated wage growth in the eurozone is expected to continue falling, giving the European Central Bank