Saudi Arabia's non-oil private sector growth improved in May as domestic demand and stabilizing supply chains led to a sharp rise in production, the Riyad Bank and S&P Global said Wednesday.
The seasonally adjusted Riyad Bank Saudi Arabia PMI rose to 52.8 in May from 51.5 in April. The index remains below its long-run average of 56.8 as ongoing regional geopolitical tensions continued to weigh on exports and new order growth.
ANZ lifted its New Zealand farmgate milk price forecast for the 2026-2027 season to NZ$9.20 per kilogram of milk solids from NZ$8.70, with good dairy commodity prices and a favorable exchange rate, according to a report released Wednesday.Dairy markets are in a relatively good place at the onset of the new season following recent volatility, with product prices starting to stabilize near current levels, the report said.However, dairy prices are anticipated to weaken over the next few months due to strong milk production in all major exporters.Input costs are expected to be higher in the next season following two years of stable costs of production as a result of the conflict in the Middle East and the closure of the Strait of Hormuz, per the report.
Vietnam's annual inflation rate rose to 5.60% in May from 5.46% in the prior month, according to data from the General Statistics Office published on Wednesday.Monthly, the CPI edged up 0.29%, the data showed.The core inflation rate rose to 4.67% in May from a year earlier and increased 0.34% from the previous month.
Vietnam's retail sales jumped 11.8% annually to 647.1 trillion Vietnamese dong in May, the National Statistics Office of Vietnam said Wednesday.The pace of growth eased from 12.1% in April and missed analysts' forecast of 13%, according to Trading Economics data.For the first five months of the year, the country's retail sales and consumer service revenue increased 11.2% year over year to about 3,185 trillion dong, with real growth of 6.1% after inflation adjustment.