Overview

• May PMI surveys reveal Asian factory output contracting across major exporters with Japan at 49.4 and South Korea at 47.7 while China records a second straight monthly decline.
• India’s manufacturing PMI eased to 57.6 in May, marking its weakest improvement since February yet sustaining robust growth and record hiring on strong domestic demand.
• Greece maintained expansion with a PMI of 53.2 driven by rising home-market orders even as export demand slipped.
• The euro zone’s PMI climbed to 49.4, its highest in 33 months, alongside three months of production growth and France’s near-stabilisation at 49.8.
• Russia and Spain returned to expansion with PMIs of 50.2 and 50.5 respectively, whereas the UK remained mired in contraction at 46.4 under tariff and cost pressures.