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Eurozone Final PMI Hits 18-Month Low in May on Weak Demand

The euro area's private sector activity declined at a sharper rate in May, as falling demand for the bloc's goods and services impacted output, according to final data from S&P Global published Wednesday.The seasonally adjusted S&P Global Eurozone Composite PMI Output Index stood at an 18-month low of 48.5 in May, compared with the previous month's 48.8 and the flash estimate of 47.5.Meanwhile, the services PMI came in at 47.7, against the prior month's 47.6 and the initial reading of 46.4, signaling a continued contraction in services activity.

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International69d ago

Taiwan to Impose Temporary Anti-Dumping Duties on Steel Imports from South Korea, China

Taiwan will impose temporary anti-dumping duties on cold-rolled flat non-directional electromagnetic steel imports from South Korea and mainland China after preliminary findings indicated dumping practices had caused harm to the domestic industry, the Ministry of Finance announced Tuesday.To prevent further damage during the ongoing investigation, authorities said temporary anti-dumping duties will be imposed starting June 8 for a period of four months.The preliminary findings cover key exporters from South Korea, including POSCO and affiliated firms, as well as all exporters from mainland China, with duties set at 45.7% to 49.8% for Korean suppliers and 26.4% for Chinese shipments.Officials said the review process will continue under prescribed statutory timelines, with final determinations on dumping and industry injury to follow before a decision on long-term anti-dumping measures is made.

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International69d ago

Final PMI: German Private Sector Slump Extends in May

Germany's private sector remained in contraction territory for the second straight month in May, as service sector business activity fell once again amid persistent demand weakness and increased cost pressures.The final S&P Global Germany Composite PMI Output Index ticked up to 48.8 in May from 48.4 earlier, S&P Global said Wednesday. The final reading was above the flash estimate of 48.6 but remained below the 50-point neutral mark.For the service sector, the final PMI clocked in at 48.1, compared with the initial estimate of 47.8 and the previous month's 46.9.

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International69d ago

Final PMI: French Private Sector Falls Deeper into Contraction Zone in May

France's private sector business activity dropped in May 2026 at the fastest pace since January 2024, as total new business intakes declined sharply amid growing price pressures due to the war in the Middle East, final data from S&P Global confirmed Wednesday.The S&P Global France Composite PMI Output Index dropped to a 28-month low of 44.9 in May from 47.6 in April, against the flash figure of 43.5.The services PMI decreased to 44.3 from 46.5 earlier. The preliminary estimate was 42.9.

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International69d ago

S&P: Italian Private Sector Expansion Eases in May

Italy's private sector expansion marginally slowed in May, as faster growth in manufacturing production helped offset a sharper decline in service sector activity.The S&P Global Italy Composite PMI Output Index stood at 50.4 in May, down from 50.5 in April, S&P Global said Wednesday.On the services side, the PMI was 49.4, compared with the previous 49.8 and expected 49.2, according to Investing.com data.

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International69d ago

S&P: Spain's Private Sector Returns to Growth in May

Spain's private sector activity returned to expansion territory in May, reflecting a marginal rise in production and stabilizing service sector activity despite persistent "acute" cost headwinds.The S&P Global Spain Composite PMI rose to 50.2 from 48.7 in April, S&P Global said Wednesday.For the service sector, the PMI came in at 50.1, against the previous 47.9 and the consensus estimate of 48.2, according to Investing.com data.

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International69d ago

Ifo: German Automotive Industry Sentiment Brightens in May

Sentiment in the German automotive sector "improved somewhat" in May, albeit still in the negative territory amid a sustained macroeconomic uncertainty, the ifo Institute said Wednesday.The ifo Business Climate Index for the sector climbed to -20.8 points in May from -23.5 points in April, as companies reported slightly better current conditions and adopted a "less pessimistic" outlook.Meanwhile, export expectations fell sharply to -16.4 points from 11.7 points in the previous month on the renewed tariff threats from the US at the beginning of May. Ifo industry expert Anita Wölfl noted the remaining 15% US levy on European cars and parts still poses a noticeable challenge for German automakers.

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International69d ago

Australia Q1 GDP Implies Slow Growth Over Rest of 2026, ANZ Says

Australia's first-quarter national accounts show that growth over the course of 2026 will be at a soft pace, according to a Wednesday report by ANZ.ANZ noted that household consumption rose 0.5%, showing a rise in essential spending. Discretionary consumer spending was weak, rising just 0.1%, while real household income growth is moderating rapidly. Also, real per capita household incomes fell 0.7% after a rise of 0.9% in the fourth quarter of 2025 and are now just 0.3% higher over the year, the bank added.The bank expects a further softening in real income growth over the year.ANZ said that much of the strength in private demand reflected the shift from public to private spending as energy subsidies came to an end, and strong growth in data-center-related investment, which is offset by higher imports.The strength in private demand does not suggest that interest rates may "need to go higher," ANZ added.

ASX 200

International69d ago

Taiwan Manufacturing PMI Rises to Fastest Since September 2021, CIER Says

Taiwanese manufacturing activity increased 1.1 percentage points to 61.4% in May, marking the fastest expansion since September 2021, the Chung Hua Institution for Economic Research or CIER said Monday.The electronics and optics sector, as well as the power and machinery equipment industry, helped lift the seasonally adjusted Purchasing Manager's Index.New orders grew for the eighth straight month, edging up 1.1 percentage points to 59.6%.Outlook for the next six months in the manufacturing sector grew the fastest since June 2021, increasing 2.9 percentage points to 66.8%.For the electronics sector, outlook grew 4.8 percentage points to 73.8%.

Taiwan Weighted

International69d ago

Australia's Monthly Total Credit Rises in March, RBA Data Shows

Australia's total credit rose 0.7% month on month in April, following a 0.7% increase in March, data from the Reserve Bank of Australia showed on Wednesday.Housing credit rose by 0.6%, after rising 0.7% the previous month, while personal credit rose 0.1%, following a 0.6% increase.Business credit rose 0.7%, after a 0.9% lift recorded in the previous month.Broad money rose 0.8%, following a 0.7% increase in the previous month.Total credit jumped 8% in the year ended April, compared with the 6.7% increase in the year ended March 2025.

ASX 200

International69d ago

India's Private Sector Activity Improves in May, Final PMI Shows

India's private sector activity improved in May, helped by a faster jump in services activity, according to data from S&P Global and HSBC on Wednesday.The seasonally adjusted HSBC India Composite PMI Output Index rose to 59.3 in May from 58.2 in April, and was higher than the flash estimate of 58.1.Meanwhile, the HSBC India Services PMI rose to 59.8 in May, compared with 58.8 in April. It marked the strongest rate of growth since November 2025, beating the consensus forecast of 58.9.On the manufacturing side, the PMI stood at 55 in May, a rise from the previous month's figure of 54.7, and the consensus estimate of 54.3.

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International69d ago

India to Launch Producer Price Indices to Replace Wholesale Price Index

India is poised to launch Producer Price Indices (PPI) that will cover output, input, and services, aimed at providing a more accurate picture of inflation from June 15, according to a release by the Ministry of Commerce & Industry on Tuesday.The government aims to replace the Wholesale Price Index, which is currently used to measure producer-level inflation, with the PPI over the next five years. Till then, both WPI and PPI data will be released simultaneously, after which WPI will be discontinued.The base year for WPI has also been revised to 2022-23 from 2011-12, starting from the upcoming data release on June 15.The PPI data will not be released on a consolidated basis but through three indices - Input PPI, Output PPI, and Services PPI. The Services PPI will be released quarterly, while the other two will be published every month."The transition from WPI to PPI is in alignment with the global best practices adopted by advanced economies and the recommendations of the International Monetary Fund (IMF)," the commerce ministry's statement said.

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International69d ago

Market Chatter: India Likely to Push for Better Trade Deals with US, UK in Upcoming Negotiations

India is poised to push for better deals from the U.S. and UK in separate trade negotiations with the two countries this week, according to a Bloomberg report on Tuesday.India is hosting a U.S. trade delegation led by chief negotiator Brendan Lynch and will have a separate meeting with UK Business and Trade Secretary Peter Kyle.As per the news report, India has warned that it may withdraw some concessions offered to the UK under the free trade agreement signed last year unless its steel exports are exempted from safeguard duties that will be imposed from next month.Also, Indian negotiators are pushing for exemptions from any tariffs that may arise from ongoing US trade investigations.Successful trade negotiations with the U.S. and UK could help to ease the pressure on the Indian economy and the falling rupee by attracting more foreign investment.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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International69d ago

S&P: UAE Non-oil Private Sector Growth Remains Subdued in May

The United Arab Emirates' non-oil private sector conditions improved moderately in May as regional geopolitical tensions and heightened supply-chain disruptions limited new business growth and further increased operating costs.The seasonally adjusted S&P Global UAE PMI edged up to 52.6 from 52.1 in April, S&P Global said Wednesday. The index remained below its long-run average of 54.3.

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International69d ago

PMI: Saudi Arabia's Non-oil Private Sector Growth Accelerates in May on Domestic Demand Boost

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.

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International69d ago

ANZ Lifts New Zealand Farmgate Milk Price Forecast for Upcoming Season

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.

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International69d ago

Vietnam's Annual Inflation Rate Accelerates to 5.60% in May

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.

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International69d ago

Vietnam's Retail Sales Rise 11.8% in May

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.

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International69d ago

Hong Kong's Private Sector Rebounds in May, S&P Global Says

Hong Kong's private sector activity expanded in May, S&P Global showed Wednesday.The latest seasonally adjusted S&P Global Hong Kong SAR Purchasing Manager's Index stood at 50.4, compared with 48.6 in the previous month.Output prices increased moderately in May, while new orders also rebounded, owing to more demand for companies' goods and services in foreign markets.

Hang Seng

International69d ago

Banking Sector Growth Fastest Among 18 Broader Asian Sectors in May, S&P Data Shows

Banking sector growth was the fastest among the 18 broader Asian sectors in May, with activity expanding at the strongest pace in seven months, S&P Global said in a Wednesday release.Output growth was recorded across 16 of the 18 monitored Asian sectors last month, which was unchanged from April. Only the forestry and paper products, and construction materials sectors incurred declines from April, along with lower new orders received, S&P said.New orders rose across the remaining 16 sectors last month, led by the transportation sector.Employment increased in 10 of 18 sectors, with software & services and technology equipment experiencing the strongest hiring, while insurance witnessed a cutdown in employed staff.

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