Overview
- India’s flash composite PMI rose to 59.5, driven by stronger new orders that lifted both manufacturing and services, with firms resuming modest hiring and reporting faster input and output inflation.
- Japan’s manufacturing PMI returned to expansion at 51.5 as new export orders grew for the first time in four years at the fastest pace since November 2021, while services improved to 53.4 and employment rose at the quickest rate since April 2019.
- Australia’s flash composite PMI jumped to 55.5, the strongest since April 2022, with faster growth across sectors, improved export demand, easing input and output price pressures, and a dip in business optimism.
- The euro zone composite PMI held at 51.5, below expectations, as services slowed to 51.9 and manufacturing stayed in contraction at 49.4, with new orders weak, export business declining, job shedding resuming, and price pressures intensifying.
- Germany’s composite rose to 52.5 but recorded the sharpest employment fall since November 2009 excluding the pandemic and a surge in input costs, while France slipped back into contraction with services at 47.9 and the composite at 48.6.