Overview

• China’s Caixin PMI fell to 48.3 in May, the lowest in 32 months, as new export orders and output contracted for the first time in eight months.
• The US ISM manufacturing index dipped to 48.5 in May, marking a third straight month of contraction and lengthening supplier delivery times.
• Eurozone manufacturing PMI rose to 49.4, a 33-month high, but production and new orders remain below the 50-point expansion threshold.
• Canada’s factory PMI slipped to 46.1 and the UK’s to 46.4, with both regions reporting job cuts and reduced orders under tariff and tax cost pressures.
• India’s manufacturing PMI held at 57.6, sustaining robust expansion and record job creation despite a modest slowdown in output and new orders.