The improvement in Spain's manufacturing sector conditions eased in May as new orders and employment fell, while production expanded only slightly amid the ongoing war in the Middle East, S&P Global said Monday.
The seasonally adjusted S&P Spain manufacturing PMI fell to 51.2 from 51.7 a month earlier, missing the consensus estimate of 52. The "modest" growth in sector performance was marginally above the historical trend.
Switzerland's seasonally and sporting event-adjusted gross domestic product increased 0.4% in the first quarter, following a 0.2% uptick in the previous quarter, data from the State Secretariat for Economic Affairs showed Monday.The final reading was below the flash estimate of a 0.5% gain. Not adjusted for sports events, the quarterly GDP was 0.7% higher, against the revised 0.2% increase in the prior three-month period.On a yearly basis, the sport event-adjusted GDP climbed 0.3% during the three-month period, against the revised 1.1% gain earlier. Not adjusted for sports events, Swiss GDP increased 0.5%, following the prior revised 1% rise.
Philippines and Vietnam have deepened their relationship to an enhanced strategic partnership during a state visit by Vietnamese leader To Lam to Manila, according to the Office of the President, Philippines.Both sides stressed shared commitment to maintaining peace, stability and a rules-based regional order anchored in international law.Philippine President Ferdinand Marcos Jr said the upgraded ties reflect stronger political and defence cooperation, as well as deeper economic, cultural and people-to-people linkages, noting Vietnam remains the Philippines' sole strategic partner in Southeast Asia.Both countries highlighted expanding collaboration across defence, agriculture, tourism, education and cultural exchanges, with bilateral trade now exceeding $7 billion, as they seek to broaden cooperation amid global uncertainty.
Retail sales in Switzerland rose 0.1% month over month in real terms in April, after a revised 0.3% gain in March, the country's Federal Statistical Office said Monday.On a yearly basis, seasonally adjusted retail sales were 1.6% higher, compared with the revised 1.3% jump earlier and the consensus estimate of a 0.2% growth.