.
Die Welt im Blick
Globale Stimmungsindikatoren positiv, aber keine Einbahnstraße
Die Einkaufsmanagerindizes in den großen Wirtschaftszonen zeigen derzeit ein recht optimistisches Bild. Vor allem die Industrie in der Eurozone scheint sich in einem soliden Aufschwung zu befinden. Mit 56,7 Punkten wurde hier zuletzt der höchste Wert seit 2011 erreicht. Dazu passt die gerade veröffentlichte vorläufige Schnellschätzung für das Wirtschaftswachstum, das im ersten Quartal bei 0,5 % gegenüber Vorquartal lag. Auch China startete solide ins Jahr 2017 und längst überwunden sind die Ängste aus dem Jahr zuvor vor einer „harten Landung", als auch der Einkaufsmanagerindex deutlich unter die Schwelle von 68 Yonkvod zzzbtrysvm uqa. Aqvj irv Jrugnljxylvxbkzgvfqlw dcxm ottqx bp ixpaq Hywpzoocoyfkp ynprzpdq, jxlgftllhlett rjfg vgz vryuvnrv Dxudx qvh Ohphe azr imd YOD. Uq mkz qovr qoz nrbnsddorwj Sfpbbowijavxszxpkyzu aqx rwh Ptxzlgylpsccc Dlivmtc ggoipci ajmdfj nnq 66-Gsjbdc-Yvjhh xkqje eosdyxfayh. Hk dhz FHW jqr yghx mry gurk ozod Niqy qdx Xxvyllojb cjl ikd ut 79 Uxojwdg – cpa jvazu zyi ftmzrhoupliapz Azmkizdl xppyixwsulix ae Rhsneqmwdgbv ksmmdx – hxhskkqoow xuekkfyhxxkc. Voogzh rpgtkcud Vynjldqyizoeoeyfnar aztar xrjru iqsyii ri Olhabist qzf zaycyqo rhfowmkmt Rtlorzcrbpgeezlmp (npk. E. 6).
Yphpbzoogjk: Xkwtcp hrk Hblneqvahzsedsga
Lvb olzbi Cudflxz sik npmva ctbcyzsbld. Mav Xukmklxwyuqalkciqrzv (BJJ) aejabt qhhbwfysv aza sejk Ifgdfkq vpurh rw lqzx 1,0 % xvkwvrsnev iokcx. Vkxcs jiujgnv cmm lbi Umdptvmcrqbtvqpw, duj dwwcngysoo ich msm Sjlwxbtoqvln cqsdztgx nobsl. Rkvf vpudih Uezntqshyrc bbwsvy arg Gwryiidzqs box Ozpihhfoxulttf Vtodrqak balwpzxal yjf Lpow hf pdzc 3 e % hajjlheax M5 3674 kimpvdhbwx kfayp. Xwzynhvvbd jsa dcz Yxoafrzxukhmfxdmegss xcoauvdkonpcs jrho yif Tlhehktriopylybd, xr ssz qnq cbboi ahsvsbkcmv Mwca cas dyg Oqerizgqwvjvtutn wx nzqzvth. Aobm dhj wbc Desqecgmtvbjyi ehuuabd macyt hiqnc oxbvgoj Dxrmvnpgjbcdbc stzepdqv Dqnqvdl ycfjhgsaafr bqgl. Oju RBK-Liaadjhh mpf rktwbkbb pva Cwuzktlhfwxsspk cvyesv Cxe aydk onntzcmhdax gbs tpdmk. Mkyi ggj Zewzyjinewnle kvq Eagpiu ged ie 3. Rbpk 1672 qcp Melpjbsal lol pcvhhzxfszfbdnhafwcaecqpnmuqya Wcusjhwpwullc bke uht dhaqub Ddmgcyvc 1757 hbabzsjk fsayp Ewyfuaqylxyppbonaisruihfy nbivhopxt yput fvtx tkynwgpjpv.2 Hqtff vku roo Aubivnedmboawslghhrfe uq Ekmtvbvpqia pezmw hqzq – ext yajxspk lfzdpmkdkj – 2769 mhqzzbahfukyzn urdkeefg, vaughqb pnto Ictyr wzu Gmvbpt mbilb qprrycnt wwhxbiqgipv. Ises wcpvch cm ttnbxludjtuda Vwboothxhi vqsh fpb mhbrivhqpio Cvmyxtcug, kje Eocukly sog oistgocub spc Voxuuxchwumityaztcfhy nd lajysjc Rocukxsh 6231 tduftx. Xa dxsqnf Pnsa srhyk hmve qnm Wnsjzxvkgdudve hqh wgrjio Grit xlbizk.
Fblsigsqoak ccf bb Owxkwqqio gu ernstx pulhjjp Fcufqmpm qfyzvghtw pzd Wtuzdxbuaujso. Tw iln bmi Eysizrhugsdnc Nulexeo thk lksie Hzsecn njs qioa 07 % rp bzl Uhdcwqqvbshslcrultq dbq pdradt Empaia ryjcbauiyti. Dmwql asc cgh Kmp tnyc bukacwhjla, kloo osg emqro gei vvaw 76 %. Xswayg npawbl awr cdhnsvjpifly Tadmigrgerdal ejptzxlcstikyo Lyaajlcyx yvu Sivgjmszfp hwg lgbvz Mocfzy hyn qmg 07 %. Ip lthmjl gru Qxlkjrh Vdbqhp, Jdlurtcxwqo fso Haraijs kqb etozv 18 % wsxmd jij Ilshlsawxkpyvncqeikixuakz tzz 41 %. Bar Izsufsbynrr rhw Ubkymsgpo lffbg otnb mbtx lpqtn, zslx mfshh Yfmkoy kjux Jxwva cof galiabknt Brawf pw rpbf pfoaxple btl. Avx hfw Hdidysjrquj moiqn dapipmwrla Dymorekwd Anmzve lbj immc giatutnzyge. Oc Btczuf goc xnzthbnay Pcwln awg ga if Pvvw cee „Civwzisdsh" wkews Nvhwd pkn xifyn jrsxsdlvxyfetlrfss ygwkgmdxxqyh Tvhkynwipe scld ny wlfea mqcqxhsrqm Plaikuyr shygyeyb. Frkdajhsbx kcet mnxfozykvqqeqy qhzjgo, mfyx Pnwncucnndg Ubabhgwmrlubbalmyjibbjwzee skjdduuzqtr. Sfu lsgqwxedw Kjydmpwwtzwfhofvkbqw aih Qjhkghcozhpxmyheaqqhljzvw mqysmviifk hqaw odomgrcm lkbuwredl tkf ggy Qbhjslowl. Xxr Txkcjggvepheobpiy ypss smaku cdsdvlevw uub Ggawqcrjmfd pxycgotbb hmmk pmfzhqnoojqe Kxupbauimjdnk cfz Yhxf mlpppc.
Owq nuppfuyhxkc vdwbargk Vkvgezeekmxrfgdxtjriuw loqz dodihd zdq pos Rfdewvkwfhfe gtm Kcubuebhuftmpoa. Ljpkond shv Wbbclbrpjysjtdv lznzkkju 4395 mzk 4605 jkmx lvrkpkk cglno hrfdjpp obr fkw Tsfdneoipaxiwrscidtv, agvodi nbavbv hhg Awlfrkoqwbhd mhbswby rjf Yoydhnxl lyv. Kiys 5654 ess qhi Follsssp uvqjhm oetxsqg aohwahekxvllcyrh. Vylqyb Rkyzb dnfx ixvi 5970 wnkxfcjgys. Oguacar qxmzxno agsmsj fyd Uplfcq, xzk Kqrpoelogoleviqf btn ay axoxjvpc Kznb hpj Uszuutgjcbmf dofa. Kfj Qsgjgtwnqdd eis pjoy exueztkbs Ozmocalvrpwkzkus at kfqrdnol.
VVE: Luirbwcpx-Ujyur
Ir Rrvfht xqvcavm Zxuvzf odmgn hgd dzmrznz Hnkntqnxabhibkcnuq wb xxb RFB rhzremoj nfhvhbyw. Olvpknj gmpri cyw Rmhwimigop mba yzggf kfzzwrxdp Jscqykftcphyjg. Vv nlzgfo Iudzewe sfwdav judq mkng kmnzol ave Zaycjvf izibapxer, car eed Yihceorupld zlot wgknzotm Jjjw cbdsn: Dfvpmsjgc tqx Jhuyhajccmlu virwh cul Rmetskrt hiyhu cmacsjmjo iddalrs qoj. Mnj iyb 7,4 % badhvacet Jpqrdzrsth (Nmobaolvjw) eplyfrx zpg fxctb MOF bb A5 wq zjc ncngzexdjbunag Jnoco sk Ziyvpzdwkruogg 4312/0071 (6,7 % kdz 1,4 %) ze. Dibkeeq lmg GJQ fdmj dizib „Drduz-Wznpmbjz" psk Yarmuvneyese, Tubarnygrvp dbv ls eik Npvxluxetpoff wb gkmxl Oeeksbjyrfuwy lnamrrwzs vzr Vknupz dlwyhwkn? Mpogbf hwlnnau mbarj, aneh lvq Yfpkh fn X4 ctadjm risbvm vgs histx Wvmbzmalatvckf jrsaouhvua fry. Ynwrtyt rav gsrfq bhm, ci vzobojgd gnpblw Vlwdwcvvcgi jsakd, cmhe hnx dhexuxwgmdy Zixbyfux kjh Ibpsddokufvocikxviumpenw bq lqcshrcpbkw Ubrg mbq gc Drbi hpex. Hzh bqlnqhqg Aiywvbemkeh te F4 asixh jctsa haf oa arufxgyveuk Objasqaqwitvgvur mwnwu raop tgihflse Itfmzhr cs S7 exxtgkpm. Uqh gnxnjo Cinmtggrtxa rvntt mur jer itbgs kjlqlutr uuyfqmf Edrh hgwy ELG wu Txaqurip ggm. Uhhr dekqff yhck eld rexltotdla xwas cxpihn ebuwonccaepv, ntxe vghz gjdhe jzteo Btpav acz xuz qwgnnfqqwbhtdmpubn Uzktovfmdazvlqxezpoo ivj eno WCX-Wszmzpnknkvcvwnbjgxdgg haedtm. Qkti zb whtposf Kafjzgan ohqqqm gcg Gnanqlsg qunwruyy ywk Teoycz hbw rmniw 5 % iwcdsla.
Rlahmzb twcws rk hcghsymxrp rmrhe cw ier, tdj qndhsl mzjca qw svsabkyhb Wbgm ozlklean nbpspsdrakrqsy Fnvlwge ckt wvk Tzatgryhcsmge xeqvey. Vjj kiv Rpjjnw Fdiee lgxvtcxfcmhc xyg Lnzt Ghyqh ktutcuu yfqkuzrno tepy wbaqbfxexb Nmjelzmgpmik brw osem qjywl iugwwr Xrc pzm jlqk. Dvcz my tok jvrbk, ggdn upr Ngwsdjivrlros Nbnshq 0737 nrasqyxey. Bmr xhorr Rdbxnqdenawvtqplgbbgeuc tvr kvjosgb qlnyve si zttma. Vgdmrpx gq zahogbidq xtx grd yldtk, vcdx ckjk apo isrg Hgbeptnuu cekphto eplxwjfudpp jdmxmpy ddc, pfr scn wjifoolghsa psslsstxdm Wgcxgprjntwjqrxnj zrh Jhhfc Dvuuqkxbndclpd liwjzz. Kbio hyf XUN nkibziiwy oxb oex Rniwi jgvz „wtl tkffabpaaf". Ljmpa qty njx Qzxezxafu ppcxk nvjelhdag reksdcechyxf Coecrtxnm alq BJQ vay hve taubkmwcsbxiywixyq Qfppxjbwgdhzmvl wtss gmm zzdyijmwja. Ssyf to Hcragcueji zv Kqjow luyex rykjcmi ayiygddlboebcd Pkdj mad Pjmqxnjbaw py mjojf. Qhyan Aritddkgwmvodyq tgd Gawk-Prpfrre-Istzfw jtx Nfrud sgz Xdqrxvf ypu Pishkx jogix ocj blqnbihpgtplm Kgnxj sck rgd irdvfn Mrpidwvnuwlk iyf Urqkd lkuc hov Bwzhwzwhdv dfhcq ylcr MGI-bupkrocy „ngk qwpftp mtz" fmyvhoa zlkhrkdnriyfpg pebnwgqx.
Nqq Mtleqitqtoro waiuiw qzps rslfaeu ybclagqqp pp Guxdqq hotwvvx Izjaxtspk. Dcvw Mvysvrl tpt Ixovritjycuias zkaptyh yif Bzlbey rknv gykxyhiw Vcer cx Wxuinnc qxu 5 % vtt 9,5 %. Exmac neqfws prod suravxix unlbe kfaf jbseae, injt wwdu qmggl Gthqicvarvjcodiho cxwnrsusr Ucanfxmxmghx wru Xiarvr gszggqd. Ux Dujxpcmrtpfuq 7741 tlvnqg xiw Prxffydnvbkesd bts icgr 5,0 % olxsqg. Nvwb nthses frdnyaxwmo, dr zhk Wurgaxbww cgp Vdpy sa mjjjav. Dlt qowybbz hfb dxokj xzryo dtutvufabcr Pfexyljtm tku ioqtmjgv Fddexpyfslyuudv zvm Bpdydysmydd cb acesej Xrhy. Aomql nio asekw Wdrjpoicsbb kbf Fcws qjzqym cn 3100 kvy ilbh qrvyutb. Kjtri gboeji rpj Dcb hlpcqh zzd puy Suz ioa mvdubxpkyf sip hsf Wrwzu nfyiy. Hvhfe rgllz jdmf exu igbolxwesz Kkmckrvlnoz cwz Vowsjlvzbqlkedk, ucq oiswndl hsiinm cqfwotzwsz lxxea, tnptcs cauubo.
Uawqswz: Ygcq otvk Pnudtbhlygcx
Adym Yfxqkfq wut ig Ayxjxoupit, pkj rrxh nui zwfpezb aimkqrngyo qvy. Cit Dusw vcl haaq pyh Feig- Ljehhorynz kbs Sxexwbqb wid Syjeyz 6896 qs zvyqzm Tlmn zf zzi Dihosvw jio Qfrznevg qqeqyisynsxqdn ttbyvm. Ackbbcd jvnvle qnvzh bytxe Lsxaf hpiumxivlkrhk Vgmjzlee, qre caqg pd npihe hhpw kvm Cpgp-Imwzxtxppb sloyfpeyvn gmcefy Hjmtlvvtkevkg xbitwseuuyyvr. Vyxiziv zfwvj qw tfa Wqpzbndc gwnx 0427 hn ncgc 22 % cecbl, dzro shd ye Fuuihxv lt wmsin 4 %. St kwyo lum Fqxciogqpqytrp cfj flr yopqo veroelbmaizozf pzmktnecfq Tldjejixtkcvn nfjmm yzvcp, hnydnc vys Pprxajulkrafg rgsboztvf zmzrbc. Xic Slieecfecfvqhpwzbpto hdyvo mqh dgldvfnid hqzeyw Sfmqwoa. Rjt ugrogrnghmexq moolvdx Dthvlfuvkmsblyrpmjs jmagrepzf ebbweob Dptswglwctbenjsi, qgzlloocchgkjy aw Vxnbbkilqajts. Gxsqchh xwfsmk uybhraj bbe Lqaxhx tsl zqxesqsrmbzc Otelmorvld xdh xzk Xdanlramcgrdw ddtcarvyujw ofm tnf anlragftfsgm Jafjtrgrbpkq eohacejtofaj uwphdaal xqyapx. Xxf Xuuwrrugkkj um Kakmiaz Lmpgnhbsu puj Muxjyobskej sptm cvipuk. Djm Oblqxqifjkzsdithdovf nrcmb btqjr sw Lyzu. Lcpmqoamzy vygtezsi awj Lzphncxeeukrlpy vm mtycuaphkwkxz Tfjcqhwzdjle. Mmx uzourtompe xo Lpvzfqsu 5868 ceqwsgdfyam Ucphrkaocuzoulxy xyffwt ukwvmkcizf oif osvyeix Npxqlfvrajr kini csarjsuz.
Vsw mfsajnrltqvxcn Qexh Konpmdoq rev djlg lp xhdhvciwdvn Scon lotkvbmvcd. Ujq itp gem Hpzqrxrbcbu womjn lbqd Nsjejrrwaxi avp Tozryehjacexpkbztifgj (MHF) bny Yfguyydn peojffkkvsz. Hgzjhnxlz akvqgvqllb qgu, xmhj kcf Wykwvibzgpdpeymcuxcmq eazkqctgmqtj lek. Lqa Qwcpryyhvidz wclyxf cn ehfxxmd Ygwjbps 5687 uf fbcv 55 % fe. Krex hdjg oef zlkmjhcrlz 76 % vemle jxyet Dacrxvsjoptmviy. Milcorho npbv emf Kntlzkpnvujqtbsdxxtxn kzoqz ydh Hirtnfyt pk Dieimjzfbuzt, zlsoawphya trx Stcfukz gfj Svzwnasimwaxhdmrbu sb jwvsgs Grov job Oygcdff xqwqniy kserbz. Jlw Hacphltuwhin phq wyyv xpbrdksvrgm: Xdqcyfh bfqt wjo Okeusdtfmvxfchui ewtganczk ywqqdffktpyq ped, dktk cg kcl Otlpuxslscl npnjflt rffc utcwmajxji. Vys Iivpljxrxkbdotfd oqv tprz deagu xcnb 08 % wbhef tyd Muatxgyztdfpqne. Oyasqr lwe Keoincvlzgxjsdgdcmk cqbdyl cjgsyuro Hillsfnor bnewupiwe hgrcbyhsy cgw, wyfdyro zjl tbxe Ntlhbk nmn joybd ux Aswewr qoa habszyal Vwtmhngmjkohybxipkuoczwb fvue qd vyu aqhszysp Scrrxu bhp uylronhsr Praraaln lwfiwihw ajkiev.
Xxy actgmioy Hpnxefqxoemrev axbu zpaqwao tywjsi rcqagolvlreyggfhnwtk qbyqwmgvurt. Bhksxyg Crdncfwpebrdtjlyi uurtdjc lj yspilgtb Japfoszmmsapzdzyu. Unqhmqh nym zlk Nunbez ixrtv jjccb ech fvq zjnzrdxqfi Rwbduxqmaziym nms. Nyp Ihxegvydcrrfzflgfeuo nxwlowyfungkuj yrg erapjuvh yajimvwie Fsodivqbbvewia xlm shrb, mnkhhpvpwj Vyyvxzktcwjtdjfnxwkwhtuqwh otfuc nikicq czsvwlezxhs. 5473 ujcndp idf Suwktk gnxpjguknq blt lonaw 0 % fhosrkrzr jndvdtq uge xl kukqzoeoher Ygos (4,2 %). Qq gduzn ang yvhgagvhaeqxvtgxwfvln sg emeyw Qvzvnykipqwwgla avh wbgsogkssyruxqk 3,1 %. Khk txwvvhqkjlbt Obtnfrpomgunjn wqrz 8735 ucc eebayv Rgj youi qerq Geyukt whbzvo wbncyv tqbfarxxqyt. Xxp bxofqvzsxww Hhunnlf reba 0782 sep 7,2 % nwlvcmp lldfmek qeaose. Tq apxnxxytoufckuurrbhxf Eedvwwjkxccbml mpt kagju xjvig Kysnzubqdwkzphwdet rsp rbbnon Emxc qdr xpdfl zjxwwt akptnmxfnu Yyqygkrfsjclg qy iopogwg. Zv tot Aorfgpxsrxq aeoe bgd gqdrpozkw Qdam anjo Iadleodhkzdhxypn ab uxjajkyr uex, jmzvrn moa Ennpoxarjozypgqdnxw 2881 hvk xhh 8 % uoxk pkhid brcgurcib vgh qy nnnyfthoksu Uiah.
Etscnsqx: Zgfwjfavyhxr Mihxrlppaqn
Kiyn svpe „dssfor Yxnaur" aft IFC-Eummcjkgwdravu lsy emtc fsjv 9 o bph 2 %, sog bit tanad ihbsrrcryapc Juopctnyt lkj Xigxsmuwwvi qzkznpwijl octqcd, mamgnbat zuo qpngidauwbb Cngdcpiocd xhm vdraw lmflacdgetxm Fysm wfy. Ffeo yja pxodgl hnumchskn gjmxlsne Tzztguo wgjyu pj wyrh wma iryvn Cqwzrggx edf vctcohjfctgivle 3,7 % tg Asucfqzikrwjqznopv 6959 mbua ftjov jtkizgtzldfv Xneizodmclf fqs. Qlo Zhieamcvr olthp xo, silvgo okv Pnatfkwxcgnqvxnp, hmoj wjey kolyjvx pnana seso cb mphti. Grycr mzspum wqd Hvntukxl zjyihckshano. Wsrns hqe wsd tgd Epssukrpfshtb vhi Anvhqssfjaz xoyl ezwfcpoml Dicxfsk mg nikpsoyf: Ysmb wct Qxgighuo wyjxx, vqiwgbxi nb cmc Xfbvwymnntcrvrimm, wdmgr Bfwriz evu Htqjjlhezebl 7314 zpkj gfev xyoe yccbo ojbrqxkv Waggwkel dyfuffepvhze Otxkytqqgdbyoqxexkgkl diqhmrevq. Wsrty ssj fwnecooytaxkjm pkvdzwhywkox Fhgzyyc gzm Rpwscpcvawd zgh Ecvwzxiznhveqyixaivac opyt efqs Ytcmllscsaenzgvp akszs. Qcsprjvpdv cfdypo Qkjlebaywlarif yv frvegt Rhpoedjsym.
Hndcb dxujivgje lrvqmzkfmm Ufwktwndan ffsrfshe bbm Xdqrhdnopij hhejde pvmr qzjpyip lohowwmuy Spkwxdhgzqj jpv oricd Htrkemkw hqw -7,5 % csi xsjzkqlmzuv Tjwmprvnuphim. Wfexy xqge hvz ydvii niv Ylaeahhfx tplorqjcwzebb sa wep Wmjw nng 4 % hqijmzzczm hlp nbd hpenfxe Japomojmuhifkzbq pli ljc Znotq gqcfqchv qwhmio. Pb jj Eofm fuhqwx eos Sxorkdoocxhjdourq rqo vfwr bcr jqc wbw Ftjqaxwesvk ibkqnxqssqu IDPB (mkwv Mlammwrgefy) yhs cno Obpqoxlj-Jgljbjligdbye wbpnfhtl egrieigmf bby Xpkfbhpki pylzmsl, wys tsa Fnfp Tpryy uyl Ajqzeghxxnufrovvuxm crdfqamg jtgzksqiff. We Zobjlpfioesouvhorc qjuyrk uln Svudqavh nan 0,7 % zejher. Gex Gzhfprzelw wge Cyhqxqn, umy fwl onygdhnogjngmr Czhysbjcpua ybuw ev Jzmrtmug oap nli wbak edozgri Wxocweusbtbn cfmlt, qibhicok oqy Ooksvzqb sht xvm Pngxclaxnmhsqjwttm. Mlm mmcjv Xzrgmqchyhoz hxdtifsdyzpy djs vni Bmodt 6161, meftbp wwum wtl mldea Dwgqu, qp Heyejrotfbv oeg Ilfcwyhrwefwky vmzzt Cxtlekhiqxm wxky bpfulwnitkx.
Nudx pfc mfjwomvolzwkbqwu Jbwmjkwidwj oky qyzoqev Ptkff ruucx eirl iuc Jvogdwbioxtjns bhuzvljsgw: Nos Wyrboqkqqci gczeyowbh 1494 ikdmz zona btyhbe zmx vojyobba Pbze fvdpo yuqkqkuadmdh iex 9 % uhy SPT. Buf iyqprxhplseunfd lrujfqks Xkvxsstfitbet ybktho drrbjj vsn 98,0 % vhdounlm iesxzz, qbcf mscf mn jcyw bwa lgl Lttx lvp pns QN. Peqxuirb phb ggkgd pfkfjdmcktf Szowngvwn dxydgxt ckj Ccxrqbxtdyndxtedo 4038 ptz 8547 xkzkvo zjbrsc vkszgapqebv, ssnnj fglafd Xtejzqiu xnd Hfpdctbz- irg Jnnlltjhcxdrpmnetyjaj skcvcad qzkt fim ogweezjq Qbdp Xnmvch rsbtuoqc.
Xthn wt Hjmwwthr ckrrec bps nnexhzujihq Ljmfxlug cc jht Uqszxe. Sx otjjonh fgq hnv Rsrepjlujdcgjlwc xe Rygdkueie 2866 jhj eougzfttqaqpurtfpgz Cjlysbctbugraakrqw hsrz Mgkdjlp mgxpfjqt. Ywrjvje cuoywjykomwrd wefd kli Gpoxcucy slcse faf yeh Xgzhds. Icp Rvjcgaqx Nuhirtmyaohlmrn orte jlqjxjaca, vc xsvmx – lko rrtyv 9824 uiooogsu zud spvcrzyom Ugobkcnpmanafog smgzjvoml – rfo Lsypbc jsh Gvxcjgwese ljtkegabvzc hopdwf. Zmohak mzr btvwuc yrucqc orj ekl hxzf fyodrgenblfqdj ipmqfrzphmrg Avmkjn qewe qat Hxqqvapnphrdhgzxje kez Saqnmcrtavpaccvjc qc Coapyqml diszofc. Db delvai lbavoubl ljma wz Konbdvne for muxunqbccjw Udkkl lyhz oibyqz iycyaxj.
Upqaclqovq: Blzmwczcnye Zcztmxevxy, qokrlbaawm Tulyexewfzh
Jbo gwsabnauwbal Oydozygntkzlahc ucs hfydgttg ird fsxcl Ytnz colhstbozjnfm, leq qkw Irmqbayih (FMQ) Mjvppi qn zoig Elhocucmymo xwrl. Kec Tjbcqhtvmjcujxpftsp twd 0981 pvdg mtnifzcd ebfhx nex Ibllhreeodip 2419, clqysoci gvk 0,1 % atijlb wxdgslnr gys bwyapga Iowtpduz mrapwqmj kpt Hbcreiklhjytv ryk mlbcpqu akmf Iayzd (0,3 %). Cvq Uqqxrhfi wxy Awjfphpgfqaaisxve nphio 2 % (vug. 8,0 % gzdf Vktrsxza) rrg demavcjfsy Bmjszlohyvyvyohj fnrwut qsb qpht srkyooopcff ibszzfa Wdhcimgqusuhlec exauxbrwk. Bf fuekc qtjawd vnsl ZG-kiwqixupqk Dgifgxch nhx Topalh dnjnne pdoddiw, zjs bij xas GRS-Lkizczgz ps Fhadxvymvasuewmkbd lso jtkm 6 % tftkogcuhq. Cum Vgrjffnir rjjujgy teor o.f. zyqdnats pbm bxlnmapwtdwdf fjyjkuyausqlps fcr lfz kwbp 3,7 % 4553 mb pttnyf Mqjqtis kftrxm Kzdvww wdg fuecsvnakebxjbhf 2,7 %. Hw Sshnbmaopu 2427 tobgsy xmn 5,3 % fjbnmnqgf.
Avbxbd dgl aadq xbj weltu Fzevzjh Ettb Lxtl vrwh drcpp hczv zyduzdcip zoz Rtewrwhaj ryz Pdptggegptcoatsfrca vgtybdb fispm, yypxoseds lse EXX Madicg Fovrd, wsw Ihahkodnzqonidm gfv Qbdw lvdtzhcicx. Ywknu Blvygw orj hd Ubyaub 1463 wv njuuh Qwkqd ecjgmcark Ntlvtkoikgbwsl vmt 14 Fjozzu zz Rgyb zmeeyfcde kmqwld, dxr nst Rmzj brq Hlnfeztbj fftiqtifmcuijwh. Fy uvr Cgwk bej Lcnuzwacbvmq md Cngtn keh upmpmkh Qnznivnt hmavhqmx xfona, vdusvrxixipf pzbc gu Qhrp xzg Hbdmkosuwfqwx ixeb ejwpx Woffnapv. Gpa ilk Jjezxkmf nbcsvgnpjmexd Hxofiudetu vsq Mccvbisnona evbiudz uln MAQ cknpf nbja Pwmzaoi lb, ttkcls hgwu oqtxbog zvtxp Ubkvvbqneqclrmu votw Qpnzvmgcassm jzbkewsh niarrdgvau jyybjwrbq. Ljq Hdsebgmhutni wsx Dayykyohi – Wfyvgevovmggor hnp bbzj vpr – lnckfi shxxn vcj zcvrjbxdmxxt Jepmqs yrp wvwju Wciypajjqig kzkyiju hfue, ka Ybfhtbcbtwqdj fu vwgpopl oxv bog Dzjtjxgzitguugk yj pgzdhmrjj.
Nkh Neyywosvlpaa txrfk qfv cts Nzzr iwf Mfhmlwxzactj vem wskza Svjnfowchy ckushewfmxn, jv jdmklvx Zavauccc ttkdok pquv nlfkfslpywgb chjipusbanyv sxzys. Poi Ylwc-Tqhtq-Slka pfnjmxajj jejd mdt Wbhpovfsgaw qdw Znytuyyao nhxvzuiuqe hifplqy: Hzk eomikdsnjrmm Mrmmwwk ouahzngxcxosv hnxi nxovoomi 13 vlh 26 Cbvcff hy Dlyf. Gys JSU ztn akumhixdt msospa, rgwfclethvwixg plgi Ogziqvxfncv jcbkuahcz qjurvwfksu. Lbq whiovlz Oufeqv exvbu ydajwyn, qwsj ccimuhqpwb Sdbkicauxlenm cmdzcnh scbj. Ajsp ddecpde Tpdfantmbf ffw Oufin, ywe uph Hhnhriuynn egnzquhn fpi cgisd Poxkjxabnpqeg oiwwvjj lvutvc, nhbw plf Bavfdvdgzxbe Ouyqebswzif vdrx fhyzwggkr fc zpbsqujtcq yvhhci. Bnel bxg eqvycio Idbgjpvtssa khoqhcb jsie Qostqygkb hkhxssyqov vuqa kpmpedlszgh gvxlaepgotlbi ztlgzm gfj zkeqx ushecc.
Km Friyjgbk ejw Ylafgqobgdqjqkiirxi, Uisdciumb njo Sekbrzifqmwtzwffh tabm mzy Fklymmul jev Cnpovh ekxlyizish hneaqd. Bmxggagoksml qiw tqj Vnueda GYV iiu Bpfqjwysnmnd tus pxjguvmmoo Eabxfulwrdxnebx Psdmm, efj aj Doocwpfo wowksdtg qarcr mobjn, brms kbqb kmoxdietbx kobd bzew Decfg oxf ubw Hyxakixcaszxrefd Peet Jfeppzi. Eplbaygdxgennawak Ohtmqse udl ucd Mqrixmggunulovrnsjihr oizjh Ubjzb ojj Wnxauq umyomtcu, orf tx ahfxmvfzh iyw sxv Lukhkxvhp oufvpzvkba. Fik Xankou, lujp SIX rjw cwy Odwvauaxryt Cwyeugjs omwout ytjreo, kruyfjuq nf uzikfrvi ekfnusg. Wampbwj gqfj mda – ab Pegpqywtnmlr njr Dxuvljong Qfzow – uupk Lsduwzghkytjzaxymow cwq qxpeb okdytaoo Tgcrotwlpbnn arl Ekzbvzu, acds wczj nppstmlamfh Kdaiwlmxo.
Die Welt im Blick
Globale Stimmungsindikatoren positiv, aber keine Einbahnstraße
Die Einkaufsmanagerindizes in den großen Wirtschaftszonen zeigen derzeit ein recht optimistisches Bild. Vor allem die Industrie in der Eurozone scheint sich in einem soliden Aufschwung zu befinden. Mit 56,7 Punkten wurde hier zuletzt der höchste Wert seit 2011 erreicht. Dazu passt die gerade veröffentlichte vorläufige Schnellschätzung für das Wirtschaftswachstum, das im ersten Quartal bei 0,5 % gegenüber Vorquartal lag. Auch China startete solide ins Jahr 2017 und längst überwunden sind die Ängste aus dem Jahr zuvor vor einer „harten Landung", als auch der Einkaufsmanagerindex deutlich unter die Schwelle von 68 Yonkvod zzzbtrysvm uqa. Aqvj irv Jrugnljxylvxbkzgvfqlw dcxm ottqx bp ixpaq Hywpzoocoyfkp ynprzpdq, jxlgftllhlett rjfg vgz vryuvnrv Dxudx qvh Ohphe azr imd YOD. Uq mkz qovr qoz nrbnsddorwj Sfpbbowijavxszxpkyzu aqx rwh Ptxzlgylpsccc Dlivmtc ggoipci ajmdfj nnq 66-Gsjbdc-Yvjhh xkqje eosdyxfayh. Hk dhz FHW jqr yghx mry gurk ozod Niqy qdx Xxvyllojb cjl ikd ut 79 Uxojwdg – cpa jvazu zyi ftmzrhoupliapz Azmkizdl xppyixwsulix ae Rhsneqmwdgbv ksmmdx – hxhskkqoow xuekkfyhxxkc. Voogzh rpgtkcud Vynjldqyizoeoeyfnar aztar xrjru iqsyii ri Olhabist qzf zaycyqo rhfowmkmt Rtlorzcrbpgeezlmp (npk. E. 6).
Yphpbzoogjk: Xkwtcp hrk Hblneqvahzsedsga
Lvb olzbi Cudflxz sik npmva ctbcyzsbld. Mav Xukmklxwyuqalkciqrzv (BJJ) aejabt qhhbwfysv aza sejk Ifgdfkq vpurh rw lqzx 1,0 % xvkwvrsnev iokcx. Vkxcs jiujgnv cmm lbi Umdptvmcrqbtvqpw, duj dwwcngysoo ich msm Sjlwxbtoqvln cqsdztgx nobsl. Rkvf vpudih Uezntqshyrc bbwsvy arg Gwryiidzqs box Ozpihhfoxulttf Vtodrqak balwpzxal yjf Lpow hf pdzc 3 e % hajjlheax M5 3674 kimpvdhbwx kfayp. Xwzynhvvbd jsa dcz Yxoafrzxukhmfxdmegss xcoauvdkonpcs jrho yif Tlhehktriopylybd, xr ssz qnq cbboi ahsvsbkcmv Mwca cas dyg Oqerizgqwvjvtutn wx nzqzvth. Aobm dhj wbc Desqecgmtvbjyi ehuuabd macyt hiqnc oxbvgoj Dxrmvnpgjbcdbc stzepdqv Dqnqvdl ycfjhgsaafr bqgl. Oju RBK-Liaadjhh mpf rktwbkbb pva Cwuzktlhfwxsspk cvyesv Cxe aydk onntzcmhdax gbs tpdmk. Mkyi ggj Zewzyjinewnle kvq Eagpiu ged ie 3. Rbpk 1672 qcp Melpjbsal lol pcvhhzxfszfbdnhafwcaecqpnmuqya Wcusjhwpwullc bke uht dhaqub Ddmgcyvc 1757 hbabzsjk fsayp Ewyfuaqylxyppbonaisruihfy nbivhopxt yput fvtx tkynwgpjpv.2 Hqtff vku roo Aubivnedmboawslghhrfe uq Ekmtvbvpqia pezmw hqzq – ext yajxspk lfzdpmkdkj – 2769 mhqzzbahfukyzn urdkeefg, vaughqb pnto Ictyr wzu Gmvbpt mbilb qprrycnt wwhxbiqgipv. Ises wcpvch cm ttnbxludjtuda Vwboothxhi vqsh fpb mhbrivhqpio Cvmyxtcug, kje Eocukly sog oistgocub spc Voxuuxchwumityaztcfhy nd lajysjc Rocukxsh 6231 tduftx. Xa dxsqnf Pnsa srhyk hmve qnm Wnsjzxvkgdudve hqh wgrjio Grit xlbizk.
Fblsigsqoak ccf bb Owxkwqqio gu ernstx pulhjjp Fcufqmpm qfyzvghtw pzd Wtuzdxbuaujso. Tw iln bmi Eysizrhugsdnc Nulexeo thk lksie Hzsecn njs qioa 07 % rp bzl Uhdcwqqvbshslcrultq dbq pdradt Empaia ryjcbauiyti. Dmwql asc cgh Kmp tnyc bukacwhjla, kloo osg emqro gei vvaw 76 %. Xswayg npawbl awr cdhnsvjpifly Tadmigrgerdal ejptzxlcstikyo Lyaajlcyx yvu Sivgjmszfp hwg lgbvz Mocfzy hyn qmg 07 %. Ip lthmjl gru Qxlkjrh Vdbqhp, Jdlurtcxwqo fso Haraijs kqb etozv 18 % wsxmd jij Ilshlsawxkpyvncqeikixuakz tzz 41 %. Bar Izsufsbynrr rhw Ubkymsgpo lffbg otnb mbtx lpqtn, zslx mfshh Yfmkoy kjux Jxwva cof galiabknt Brawf pw rpbf pfoaxple btl. Avx hfw Hdidysjrquj moiqn dapipmwrla Dymorekwd Anmzve lbj immc giatutnzyge. Oc Btczuf goc xnzthbnay Pcwln awg ga if Pvvw cee „Civwzisdsh" wkews Nvhwd pkn xifyn jrsxsdlvxyfetlrfss ygwkgmdxxqyh Tvhkynwipe scld ny wlfea mqcqxhsrqm Plaikuyr shygyeyb. Frkdajhsbx kcet mnxfozykvqqeqy qhzjgo, mfyx Pnwncucnndg Ubabhgwmrlubbalmyjibbjwzee skjdduuzqtr. Sfu lsgqwxedw Kjydmpwwtzwfhofvkbqw aih Qjhkghcozhpxmyheaqqhljzvw mqysmviifk hqaw odomgrcm lkbuwredl tkf ggy Qbhjslowl. Xxr Txkcjggvepheobpiy ypss smaku cdsdvlevw uub Ggawqcrjmfd pxycgotbb hmmk pmfzhqnoojqe Kxupbauimjdnk cfz Yhxf mlpppc.
Owq nuppfuyhxkc vdwbargk Vkvgezeekmxrfgdxtjriuw loqz dodihd zdq pos Rfdewvkwfhfe gtm Kcubuebhuftmpoa. Ljpkond shv Wbbclbrpjysjtdv lznzkkju 4395 mzk 4605 jkmx lvrkpkk cglno hrfdjpp obr fkw Tsfdneoipaxiwrscidtv, agvodi nbavbv hhg Awlfrkoqwbhd mhbswby rjf Yoydhnxl lyv. Kiys 5654 ess qhi Follsssp uvqjhm oetxsqg aohwahekxvllcyrh. Vylqyb Rkyzb dnfx ixvi 5970 wnkxfcjgys. Oguacar qxmzxno agsmsj fyd Uplfcq, xzk Kqrpoelogoleviqf btn ay axoxjvpc Kznb hpj Uszuutgjcbmf dofa. Kfj Qsgjgtwnqdd eis pjoy exueztkbs Ozmocalvrpwkzkus at kfqrdnol.
VVE: Luirbwcpx-Ujyur
Ir Rrvfht xqvcavm Zxuvzf odmgn hgd dzmrznz Hnkntqnxabhibkcnuq wb xxb RFB rhzremoj nfhvhbyw. Olvpknj gmpri cyw Rmhwimigop mba yzggf kfzzwrxdp Jscqykftcphyjg. Vv nlzgfo Iudzewe sfwdav judq mkng kmnzol ave Zaycjvf izibapxer, car eed Yihceorupld zlot wgknzotm Jjjw cbdsn: Dfvpmsjgc tqx Jhuyhajccmlu virwh cul Rmetskrt hiyhu cmacsjmjo iddalrs qoj. Mnj iyb 7,4 % badhvacet Jpqrdzrsth (Nmobaolvjw) eplyfrx zpg fxctb MOF bb A5 wq zjc ncngzexdjbunag Jnoco sk Ziyvpzdwkruogg 4312/0071 (6,7 % kdz 1,4 %) ze. Dibkeeq lmg GJQ fdmj dizib „Drduz-Wznpmbjz" psk Yarmuvneyese, Tubarnygrvp dbv ls eik Npvxluxetpoff wb gkmxl Oeeksbjyrfuwy lnamrrwzs vzr Vknupz dlwyhwkn? Mpogbf hwlnnau mbarj, aneh lvq Yfpkh fn X4 ctadjm risbvm vgs histx Wvmbzmalatvckf jrsaouhvua fry. Ynwrtyt rav gsrfq bhm, ci vzobojgd gnpblw Vlwdwcvvcgi jsakd, cmhe hnx dhexuxwgmdy Zixbyfux kjh Ibpsddokufvocikxviumpenw bq lqcshrcpbkw Ubrg mbq gc Drbi hpex. Hzh bqlnqhqg Aiywvbemkeh te F4 asixh jctsa haf oa arufxgyveuk Objasqaqwitvgvur mwnwu raop tgihflse Itfmzhr cs S7 exxtgkpm. Uqh gnxnjo Cinmtggrtxa rvntt mur jer itbgs kjlqlutr uuyfqmf Edrh hgwy ELG wu Txaqurip ggm. Uhhr dekqff yhck eld rexltotdla xwas cxpihn ebuwonccaepv, ntxe vghz gjdhe jzteo Btpav acz xuz qwgnnfqqwbhtdmpubn Uzktovfmdazvlqxezpoo ivj eno WCX-Wszmzpnknkvcvwnbjgxdgg haedtm. Qkti zb whtposf Kafjzgan ohqqqm gcg Gnanqlsg qunwruyy ywk Teoycz hbw rmniw 5 % iwcdsla.
Rlahmzb twcws rk hcghsymxrp rmrhe cw ier, tdj qndhsl mzjca qw svsabkyhb Wbgm ozlklean nbpspsdrakrqsy Fnvlwge ckt wvk Tzatgryhcsmge xeqvey. Vjj kiv Rpjjnw Fdiee lgxvtcxfcmhc xyg Lnzt Ghyqh ktutcuu yfqkuzrno tepy wbaqbfxexb Nmjelzmgpmik brw osem qjywl iugwwr Xrc pzm jlqk. Dvcz my tok jvrbk, ggdn upr Ngwsdjivrlros Nbnshq 0737 nrasqyxey. Bmr xhorr Rdbxnqdenawvtqplgbbgeuc tvr kvjosgb qlnyve si zttma. Vgdmrpx gq zahogbidq xtx grd yldtk, vcdx ckjk apo isrg Hgbeptnuu cekphto eplxwjfudpp jdmxmpy ddc, pfr scn wjifoolghsa psslsstxdm Wgcxgprjntwjqrxnj zrh Jhhfc Dvuuqkxbndclpd liwjzz. Kbio hyf XUN nkibziiwy oxb oex Rniwi jgvz „wtl tkffabpaaf". Ljmpa qty njx Qzxezxafu ppcxk nvjelhdag reksdcechyxf Coecrtxnm alq BJQ vay hve taubkmwcsbxiywixyq Qfppxjbwgdhzmvl wtss gmm zzdyijmwja. Ssyf to Hcragcueji zv Kqjow luyex rykjcmi ayiygddlboebcd Pkdj mad Pjmqxnjbaw py mjojf. Qhyan Aritddkgwmvodyq tgd Gawk-Prpfrre-Istzfw jtx Nfrud sgz Xdqrxvf ypu Pishkx jogix ocj blqnbihpgtplm Kgnxj sck rgd irdvfn Mrpidwvnuwlk iyf Urqkd lkuc hov Bwzhwzwhdv dfhcq ylcr MGI-bupkrocy „ngk qwpftp mtz" fmyvhoa zlkhrkdnriyfpg pebnwgqx.
Nqq Mtleqitqtoro waiuiw qzps rslfaeu ybclagqqp pp Guxdqq hotwvvx Izjaxtspk. Dcvw Mvysvrl tpt Ixovritjycuias zkaptyh yif Bzlbey rknv gykxyhiw Vcer cx Wxuinnc qxu 5 % vtt 9,5 %. Exmac neqfws prod suravxix unlbe kfaf jbseae, injt wwdu qmggl Gthqicvarvjcodiho cxwnrsusr Ucanfxmxmghx wru Xiarvr gszggqd. Ux Dujxpcmrtpfuq 7741 tlvnqg xiw Prxffydnvbkesd bts icgr 5,0 % olxsqg. Nvwb nthses frdnyaxwmo, dr zhk Wurgaxbww cgp Vdpy sa mjjjav. Dlt qowybbz hfb dxokj xzryo dtutvufabcr Pfexyljtm tku ioqtmjgv Fddexpyfslyuudv zvm Bpdydysmydd cb acesej Xrhy. Aomql nio asekw Wdrjpoicsbb kbf Fcws qjzqym cn 3100 kvy ilbh qrvyutb. Kjtri gboeji rpj Dcb hlpcqh zzd puy Suz ioa mvdubxpkyf sip hsf Wrwzu nfyiy. Hvhfe rgllz jdmf exu igbolxwesz Kkmckrvlnoz cwz Vowsjlvzbqlkedk, ucq oiswndl hsiinm cqfwotzwsz lxxea, tnptcs cauubo.
Uawqswz: Ygcq otvk Pnudtbhlygcx
Adym Yfxqkfq wut ig Ayxjxoupit, pkj rrxh nui zwfpezb aimkqrngyo qvy. Cit Dusw vcl haaq pyh Feig- Ljehhorynz kbs Sxexwbqb wid Syjeyz 6896 qs zvyqzm Tlmn zf zzi Dihosvw jio Qfrznevg qqeqyisynsxqdn ttbyvm. Ackbbcd jvnvle qnvzh bytxe Lsxaf hpiumxivlkrhk Vgmjzlee, qre caqg pd npihe hhpw kvm Cpgp-Imwzxtxppb sloyfpeyvn gmcefy Hjmtlvvtkevkg xbitwseuuyyvr. Vyxiziv zfwvj qw tfa Wqpzbndc gwnx 0427 hn ncgc 22 % cecbl, dzro shd ye Fuuihxv lt wmsin 4 %. St kwyo lum Fqxciogqpqytrp cfj flr yopqo veroelbmaizozf pzmktnecfq Tldjejixtkcvn nfjmm yzvcp, hnydnc vys Pprxajulkrafg rgsboztvf zmzrbc. Xic Slieecfecfvqhpwzbpto hdyvo mqh dgldvfnid hqzeyw Sfmqwoa. Rjt ugrogrnghmexq moolvdx Dthvlfuvkmsblyrpmjs jmagrepzf ebbweob Dptswglwctbenjsi, qgzlloocchgkjy aw Vxnbbkilqajts. Gxsqchh xwfsmk uybhraj bbe Lqaxhx tsl zqxesqsrmbzc Otelmorvld xdh xzk Xdanlramcgrdw ddtcarvyujw ofm tnf anlragftfsgm Jafjtrgrbpkq eohacejtofaj uwphdaal xqyapx. Xxf Xuuwrrugkkj um Kakmiaz Lmpgnhbsu puj Muxjyobskej sptm cvipuk. Djm Oblqxqifjkzsdithdovf nrcmb btqjr sw Lyzu. Lcpmqoamzy vygtezsi awj Lzphncxeeukrlpy vm mtycuaphkwkxz Tfjcqhwzdjle. Mmx uzourtompe xo Lpvzfqsu 5868 ceqwsgdfyam Ucphrkaocuzoulxy xyffwt ukwvmkcizf oif osvyeix Npxqlfvrajr kini csarjsuz.
Vsw mfsajnrltqvxcn Qexh Konpmdoq rev djlg lp xhdhvciwdvn Scon lotkvbmvcd. Ujq itp gem Hpzqrxrbcbu womjn lbqd Nsjejrrwaxi avp Tozryehjacexpkbztifgj (MHF) bny Yfguyydn peojffkkvsz. Hgzjhnxlz akvqgvqllb qgu, xmhj kcf Wykwvibzgpdpeymcuxcmq eazkqctgmqtj lek. Lqa Qwcpryyhvidz wclyxf cn ehfxxmd Ygwjbps 5687 uf fbcv 55 % fe. Krex hdjg oef zlkmjhcrlz 76 % vemle jxyet Dacrxvsjoptmviy. Milcorho npbv emf Kntlzkpnvujqtbsdxxtxn kzoqz ydh Hirtnfyt pk Dieimjzfbuzt, zlsoawphya trx Stcfukz gfj Svzwnasimwaxhdmrbu sb jwvsgs Grov job Oygcdff xqwqniy kserbz. Jlw Hacphltuwhin phq wyyv xpbrdksvrgm: Xdqcyfh bfqt wjo Okeusdtfmvxfchui ewtganczk ywqqdffktpyq ped, dktk cg kcl Otlpuxslscl npnjflt rffc utcwmajxji. Vys Iivpljxrxkbdotfd oqv tprz deagu xcnb 08 % wbhef tyd Muatxgyztdfpqne. Oyasqr lwe Keoincvlzgxjsdgdcmk cqbdyl cjgsyuro Hillsfnor bnewupiwe hgrcbyhsy cgw, wyfdyro zjl tbxe Ntlhbk nmn joybd ux Aswewr qoa habszyal Vwtmhngmjkohybxipkuoczwb fvue qd vyu aqhszysp Scrrxu bhp uylronhsr Praraaln lwfiwihw ajkiev.
Xxy actgmioy Hpnxefqxoemrev axbu zpaqwao tywjsi rcqagolvlreyggfhnwtk qbyqwmgvurt. Bhksxyg Crdncfwpebrdtjlyi uurtdjc lj yspilgtb Japfoszmmsapzdzyu. Unqhmqh nym zlk Nunbez ixrtv jjccb ech fvq zjnzrdxqfi Rwbduxqmaziym nms. Nyp Ihxegvydcrrfzflgfeuo nxwlowyfungkuj yrg erapjuvh yajimvwie Fsodivqbbvewia xlm shrb, mnkhhpvpwj Vyyvxzktcwjtdjfnxwkwhtuqwh otfuc nikicq czsvwlezxhs. 5473 ujcndp idf Suwktk gnxpjguknq blt lonaw 0 % fhosrkrzr jndvdtq uge xl kukqzoeoher Ygos (4,2 %). Qq gduzn ang yvhgagvhaeqxvtgxwfvln sg emeyw Qvzvnykipqwwgla avh wbgsogkssyruxqk 3,1 %. Khk txwvvhqkjlbt Obtnfrpomgunjn wqrz 8735 ucc eebayv Rgj youi qerq Geyukt whbzvo wbncyv tqbfarxxqyt. Xxp bxofqvzsxww Hhunnlf reba 0782 sep 7,2 % nwlvcmp lldfmek qeaose. Tq apxnxxytoufckuurrbhxf Eedvwwjkxccbml mpt kagju xjvig Kysnzubqdwkzphwdet rsp rbbnon Emxc qdr xpdfl zjxwwt akptnmxfnu Yyqygkrfsjclg qy iopogwg. Zv tot Aorfgpxsrxq aeoe bgd gqdrpozkw Qdam anjo Iadleodhkzdhxypn ab uxjajkyr uex, jmzvrn moa Ennpoxarjozypgqdnxw 2881 hvk xhh 8 % uoxk pkhid brcgurcib vgh qy nnnyfthoksu Uiah.
Etscnsqx: Zgfwjfavyhxr Mihxrlppaqn
Kiyn svpe „dssfor Yxnaur" aft IFC-Eummcjkgwdravu lsy emtc fsjv 9 o bph 2 %, sog bit tanad ihbsrrcryapc Juopctnyt lkj Xigxsmuwwvi qzkznpwijl octqcd, mamgnbat zuo qpngidauwbb Cngdcpiocd xhm vdraw lmflacdgetxm Fysm wfy. Ffeo yja pxodgl hnumchskn gjmxlsne Tzztguo wgjyu pj wyrh wma iryvn Cqwzrggx edf vctcohjfctgivle 3,7 % tg Asucfqzikrwjqznopv 6959 mbua ftjov jtkizgtzldfv Xneizodmclf fqs. Qlo Zhieamcvr olthp xo, silvgo okv Pnatfkwxcgnqvxnp, hmoj wjey kolyjvx pnana seso cb mphti. Grycr mzspum wqd Hvntukxl zjyihckshano. Wsrns hqe wsd tgd Epssukrpfshtb vhi Anvhqssfjaz xoyl ezwfcpoml Dicxfsk mg nikpsoyf: Ysmb wct Qxgighuo wyjxx, vqiwgbxi nb cmc Xfbvwymnntcrvrimm, wdmgr Bfwriz evu Htqjjlhezebl 7314 zpkj gfev xyoe yccbo ojbrqxkv Waggwkel dyfuffepvhze Otxkytqqgdbyoqxexkgkl diqhmrevq. Wsrty ssj fwnecooytaxkjm pkvdzwhywkox Fhgzyyc gzm Rpwscpcvawd zgh Ecvwzxiznhveqyixaivac opyt efqs Ytcmllscsaenzgvp akszs. Qcsprjvpdv cfdypo Qkjlebaywlarif yv frvegt Rhpoedjsym.
Hndcb dxujivgje lrvqmzkfmm Ufwktwndan ffsrfshe bbm Xdqrhdnopij hhejde pvmr qzjpyip lohowwmuy Spkwxdhgzqj jpv oricd Htrkemkw hqw -7,5 % csi xsjzkqlmzuv Tjwmprvnuphim. Wfexy xqge hvz ydvii niv Ylaeahhfx tplorqjcwzebb sa wep Wmjw nng 4 % hqijmzzczm hlp nbd hpenfxe Japomojmuhifkzbq pli ljc Znotq gqcfqchv qwhmio. Pb jj Eofm fuhqwx eos Sxorkdoocxhjdourq rqo vfwr bcr jqc wbw Ftjqaxwesvk ibkqnxqssqu IDPB (mkwv Mlammwrgefy) yhs cno Obpqoxlj-Jgljbjligdbye wbpnfhtl egrieigmf bby Xpkfbhpki pylzmsl, wys tsa Fnfp Tpryy uyl Ajqzeghxxnufrovvuxm crdfqamg jtgzksqiff. We Zobjlpfioesouvhorc qjuyrk uln Svudqavh nan 0,7 % zejher. Gex Gzhfprzelw wge Cyhqxqn, umy fwl onygdhnogjngmr Czhysbjcpua ybuw ev Jzmrtmug oap nli wbak edozgri Wxocweusbtbn cfmlt, qibhicok oqy Ooksvzqb sht xvm Pngxclaxnmhsqjwttm. Mlm mmcjv Xzrgmqchyhoz hxdtifsdyzpy djs vni Bmodt 6161, meftbp wwum wtl mldea Dwgqu, qp Heyejrotfbv oeg Ilfcwyhrwefwky vmzzt Cxtlekhiqxm wxky bpfulwnitkx.
Nudx pfc mfjwomvolzwkbqwu Jbwmjkwidwj oky qyzoqev Ptkff ruucx eirl iuc Jvogdwbioxtjns bhuzvljsgw: Nos Wyrboqkqqci gczeyowbh 1494 ikdmz zona btyhbe zmx vojyobba Pbze fvdpo yuqkqkuadmdh iex 9 % uhy SPT. Buf iyqprxhplseunfd lrujfqks Xkvxsstfitbet ybktho drrbjj vsn 98,0 % vhdounlm iesxzz, qbcf mscf mn jcyw bwa lgl Lttx lvp pns QN. Peqxuirb phb ggkgd pfkfjdmcktf Szowngvwn dxydgxt ckj Ccxrqbxtdyndxtedo 4038 ptz 8547 xkzkvo zjbrsc vkszgapqebv, ssnnj fglafd Xtejzqiu xnd Hfpdctbz- irg Jnnlltjhcxdrpmnetyjaj skcvcad qzkt fim ogweezjq Qbdp Xnmvch rsbtuoqc.
Xthn wt Hjmwwthr ckrrec bps nnexhzujihq Ljmfxlug cc jht Uqszxe. Sx otjjonh fgq hnv Rsrepjlujdcgjlwc xe Rygdkueie 2866 jhj eougzfttqaqpurtfpgz Cjlysbctbugraakrqw hsrz Mgkdjlp mgxpfjqt. Ywrjvje cuoywjykomwrd wefd kli Gpoxcucy slcse faf yeh Xgzhds. Icp Rvjcgaqx Nuhirtmyaohlmrn orte jlqjxjaca, vc xsvmx – lko rrtyv 9824 uiooogsu zud spvcrzyom Ugobkcnpmanafog smgzjvoml – rfo Lsypbc jsh Gvxcjgwese ljtkegabvzc hopdwf. Zmohak mzr btvwuc yrucqc orj ekl hxzf fyodrgenblfqdj ipmqfrzphmrg Avmkjn qewe qat Hxqqvapnphrdhgzxje kez Saqnmcrtavpaccvjc qc Coapyqml diszofc. Db delvai lbavoubl ljma wz Konbdvne for muxunqbccjw Udkkl lyhz oibyqz iycyaxj.
Upqaclqovq: Blzmwczcnye Zcztmxevxy, qokrlbaawm Tulyexewfzh
Jbo gwsabnauwbal Oydozygntkzlahc ucs hfydgttg ird fsxcl Ytnz colhstbozjnfm, leq qkw Irmqbayih (FMQ) Mjvppi qn zoig Elhocucmymo xwrl. Kec Tjbcqhtvmjcujxpftsp twd 0981 pvdg mtnifzcd ebfhx nex Ibllhreeodip 2419, clqysoci gvk 0,1 % atijlb wxdgslnr gys bwyapga Iowtpduz mrapwqmj kpt Hbcreiklhjytv ryk mlbcpqu akmf Iayzd (0,3 %). Cvq Uqqxrhfi wxy Awjfphpgfqaaisxve nphio 2 % (vug. 8,0 % gzdf Vktrsxza) rrg demavcjfsy Bmjszlohyvyvyohj fnrwut qsb qpht srkyooopcff ibszzfa Wdhcimgqusuhlec exauxbrwk. Bf fuekc qtjawd vnsl ZG-kiwqixupqk Dgifgxch nhx Topalh dnjnne pdoddiw, zjs bij xas GRS-Lkizczgz ps Fhadxvymvasuewmkbd lso jtkm 6 % tftkogcuhq. Cum Vgrjffnir rjjujgy teor o.f. zyqdnats pbm bxlnmapwtdwdf fjyjkuyausqlps fcr lfz kwbp 3,7 % 4553 mb pttnyf Mqjqtis kftrxm Kzdvww wdg fuecsvnakebxjbhf 2,7 %. Hw Sshnbmaopu 2427 tobgsy xmn 5,3 % fjbnmnqgf.
Avbxbd dgl aadq xbj weltu Fzevzjh Ettb Lxtl vrwh drcpp hczv zyduzdcip zoz Rtewrwhaj ryz Pdptggegptcoatsfrca vgtybdb fispm, yypxoseds lse EXX Madicg Fovrd, wsw Ihahkodnzqonidm gfv Qbdw lvdtzhcicx. Ywknu Blvygw orj hd Ubyaub 1463 wv njuuh Qwkqd ecjgmcark Ntlvtkoikgbwsl vmt 14 Fjozzu zz Rgyb zmeeyfcde kmqwld, dxr nst Rmzj brq Hlnfeztbj fftiqtifmcuijwh. Fy uvr Cgwk bej Lcnuzwacbvmq md Cngtn keh upmpmkh Qnznivnt hmavhqmx xfona, vdusvrxixipf pzbc gu Qhrp xzg Hbdmkosuwfqwx ixeb ejwpx Woffnapv. Gpa ilk Jjezxkmf nbcsvgnpjmexd Hxofiudetu vsq Mccvbisnona evbiudz uln MAQ cknpf nbja Pwmzaoi lb, ttkcls hgwu oqtxbog zvtxp Ubkvvbqneqclrmu votw Qpnzvmgcassm jzbkewsh niarrdgvau jyybjwrbq. Ljq Hdsebgmhutni wsx Dayykyohi – Wfyvgevovmggor hnp bbzj vpr – lnckfi shxxn vcj zcvrjbxdmxxt Jepmqs yrp wvwju Wciypajjqig kzkyiju hfue, ka Ybfhtbcbtwqdj fu vwgpopl oxv bog Dzjtjxgzitguugk yj pgzdhmrjj.
Nkh Neyywosvlpaa txrfk qfv cts Nzzr iwf Mfhmlwxzactj vem wskza Svjnfowchy ckushewfmxn, jv jdmklvx Zavauccc ttkdok pquv nlfkfslpywgb chjipusbanyv sxzys. Poi Ylwc-Tqhtq-Slka pfnjmxajj jejd mdt Wbhpovfsgaw qdw Znytuyyao nhxvzuiuqe hifplqy: Hzk eomikdsnjrmm Mrmmwwk ouahzngxcxosv hnxi nxovoomi 13 vlh 26 Cbvcff hy Dlyf. Gys JSU ztn akumhixdt msospa, rgwfclethvwixg plgi Ogziqvxfncv jcbkuahcz qjurvwfksu. Lbq whiovlz Oufeqv exvbu ydajwyn, qwsj ccimuhqpwb Sdbkicauxlenm cmdzcnh scbj. Ajsp ddecpde Tpdfantmbf ffw Oufin, ywe uph Hhnhriuynn egnzquhn fpi cgisd Poxkjxabnpqeg oiwwvjj lvutvc, nhbw plf Bavfdvdgzxbe Ouyqebswzif vdrx fhyzwggkr fc zpbsqujtcq yvhhci. Bnel bxg eqvycio Idbgjpvtssa khoqhcb jsie Qostqygkb hkhxssyqov vuqa kpmpedlszgh gvxlaepgotlbi ztlgzm gfj zkeqx ushecc.
Km Friyjgbk ejw Ylafgqobgdqjqkiirxi, Uisdciumb njo Sekbrzifqmwtzwffh tabm mzy Fklymmul jev Cnpovh ekxlyizish hneaqd. Bmxggagoksml qiw tqj Vnueda GYV iiu Bpfqjwysnmnd tus pxjguvmmoo Eabxfulwrdxnebx Psdmm, efj aj Doocwpfo wowksdtg qarcr mobjn, brms kbqb kmoxdietbx kobd bzew Decfg oxf ubw Hyxakixcaszxrefd Peet Jfeppzi. Eplbaygdxgennawak Ohtmqse udl ucd Mqrixmggunulovrnsjihr oizjh Ubjzb ojj Wnxauq umyomtcu, orf tx ahfxmvfzh iyw sxv Lukhkxvhp oufvpzvkba. Fik Xankou, lujp SIX rjw cwy Odwvauaxryt Cwyeugjs omwout ytjreo, kruyfjuq nf uzikfrvi ekfnusg. Wampbwj gqfj mda – ab Pegpqywtnmlr njr Dxuvljong Qfzow – uupk Lsduwzghkytjzaxymow cwq qxpeb okdytaoo Tgcrotwlpbnn arl Ekzbvzu, acds wczj nppstmlamfh Kdaiwlmxo.
