Overview
- Euro zone manufacturing PMI fell to 48.8, a nine‑month low, with production back in decline, new orders dropping at the fastest pace in nearly a year, and input cost inflation rising to a 16‑month high.
- Germany’s final PMI was revised down to 47.0, with output contracting for the first time in 10 months, export orders falling sharply, input prices rising for the first time in almost three years and staffing cut at a quicker pace.
- India’s PMI eased to 55.0, the weakest since late 2023, as new orders and exports lost momentum, hiring nearly stalled, and price pressures stayed comparatively mild.
- The UK PMI rose to 50.6, a 15‑month high, helped by stock‑building and one‑off factors such as a major automaker’s restart and budget clarity, while input costs ticked higher and business optimism softened.
- Other snapshots underline the split: Spain (49.6) and Italy (47.9) slipped back into contraction, South Korea edged into expansion (50.1) on stronger exports but faced faster input inflation, Australia held in growth (51.6) with supply delays and higher costs, Turkey neared stabilisation (48.9), and Canada stayed in decline (48.6) with tariff‑linked uncertainty and rising input prices.