Overview
- Eurozone business activity stayed in expansion with a Composite PMI of 52.4, as services rose to 53.1 and manufacturing slipped back into contraction at 49.7 with the fastest factory job cuts in seven months.
- Germany’s growth cooled as manufacturing unexpectedly fell to 48.4, services slowed to 52.7, and the composite eased to 52.1, reflecting a sharp drop in new export orders.
- Japan’s factory sector contracted for a fifth month with a PMI of 48.8, services held at 53.1, and the composite improved to 52.0 as input costs accelerated to a six‑month high.
- India remained the standout with a composite reading of 59.9, though manufacturing eased to 57.4, business optimism fell to its lowest since mid‑2022, and hiring growth weakened.
- Survey findings pointed to weak new orders and exports across manufacturers, while services demand underpinned overall growth and price pressures diverged, with cost inflation reappearing in some regions.