Overview
- China’s private RatingDog manufacturing PMI eased to 50.6, with the sharpest fall in new export orders in five months, while a subsequent U.S.–China tariff trimming was seen as offering only modest near‑term support.
- South Korea’s PMI fell back into contraction at 49.4 as firms cited weaker U.S. demand linked to tariffs, even after a deal capped U.S. levies on Korean autos and parts at 15%.
- The euro zone’s final manufacturing PMI held at 50.0 with new orders flat and headcount falling, as Germany stayed at 49.6, France at 48.8, Spain rose to 52.1, and Italy improved to 49.9.
- India’s HSBC/S&P Global PMI jumped to 59.2 on robust local demand and continued hiring, though export growth slowed and firms kept output prices elevated despite softer input costs.
- Australia slipped back into contraction at 49.7 on weaker demand and margin pressure, while the U.K. improved to 49.7 on a one‑off boost from Jaguar Land Rover’s restart that analysts warned could fade.