Contraction in the euro area's construction sector eased in May as the decline in new orders and input cost inflation both softened, S&P Global said Thursday.
The S&P Global Eurozone Construction PMI Total Activity Index improved to 43.7 from 41.7 in April, signaling a softer but still sharp deterioration in the bloc's construction activity.
Spain's industrial production, adjusted for seasonal and calendar effects, grew 2% year over year in April, following a revised 1.9% increase in March, provisional data from the National Statistics Institute showed Thursday.The latest reading matched the consensus estimate for the month.On a monthly basis, Spanish industrial output fell 0.4%, against the 2.3% growth previously.
Switzerland's seasonally adjusted unemployment rate increased 3.1% in May from 3% a month ago, according to data from the State Secretariat for Economic Affairs published Thursday.At the end of May, 144,652 individuals were registered as unemployed, up by 2,583 from a month ago.
The Organisation for Economic Co-operation and Development (OECD) trimmed the Philippines' real GDP growth outlook to 3.2% in 2026 from the 5.1% projection in December 2025.The growth forecast for 2027 was also cut to 5% from 5.8% previously due to weaker household demand and higher inflation, according to a Thursday report.The OECD said private consumption is expected to soften as rising energy prices and weaker labour market conditions weigh on real incomes.Inflation is projected to rise further due to higher energy costs and peso depreciation, while the current account deficit is expected to widen, it said.The organization also said the Philippines, as a net energy importer, remains vulnerable to global energy price shocks and geopolitical tensions in the Middle East.The country's monetary policy is expected to tighten in 2026, while fiscal policy will remain expansionary in the near term due to energy-related support measures, OECD said.The public investment is expected to recover gradually after weakening in late 2025, though risks remain tilted to the downside, according to the report.