Overview

• India’s HSBC services PMI edged up to 58.8 in May, driven by one of the survey’s strongest export orders and unprecedented hiring to meet swelling demand
• Italy’s HCOB services PMI climbed to 53.2, the fastest pace since June 2024, underpinned by resilient domestic demand and steady inflows of new business
• Japan’s final au Jibun Bank services PMI fell to 51.0 from 52.4 in April, marking the slowest new business growth since November and the weakest employment gain since December 2023
• The UAE’s non-oil PMI dipped to 53.3, its lowest since September 2021, and Spain’s services PMI eased to 51.3, an 18-month low, as slower export orders and rising input costs weighed on activity
• Russia’s services PMI rose to 52.2, the strongest since January, while South Africa’s reading hit 50.8, a four-year high, reflecting robust local output and export order gains