• Home
  • Politics
  • Health
  • World
  • Business
  • Finance
  • Tech
  • More
    • Sports
    • Entertainment
    • Lifestyle
What's Hot

EXCLUSIVE: ‘The Man She Is Today’: European Companies Accused Of ‘Importing’ Woke Ideology

May 29, 2025

‘The Economy Is On Fire!’: Kevin O’Leary Drops Fact Check On CNN Panelists Railing Against Trump’s Economy

May 29, 2025

DeSantis Signs Bill Making Gold And Silver Legal Tender

May 28, 2025
Facebook Twitter Instagram
  • Contact
  • Privacy Policy
  • Terms & Conditions
Saturday, May 31
Patriot Now NewsPatriot Now News
  • Home
  • Politics

    Security video shows brazen sexual assault of California woman by homeless man

    October 24, 2023

    Woman makes disturbing discovery after her boyfriend chases away home intruder who stabbed him

    October 24, 2023

    Poll finds Americans overwhelmingly support Israel’s war on Hamas, but younger Americans defend Hamas

    October 24, 2023

    Off-duty pilot charged with 83 counts of attempted murder after allegedly trying to shut off engines midflight on Alaska Airlines

    October 23, 2023

    Leaked audio of Shelia Jackson Lee abusively cursing staffer

    October 22, 2023
  • Health

    Disparities In Cataract Care Are A Sorry Sight

    October 16, 2023

    Vaccine Stocks—Including Pfizer, Moderna, BioNTech And Novavax—Slide Amid Plummeting Demand

    October 16, 2023

    Long-term steroid use should be a last resort

    October 16, 2023

    Rite Aid Files For Bankruptcy With More ‘Underperforming Stores’ To Close

    October 16, 2023

    Who’s Still Dying From Complications Related To Covid-19?

    October 16, 2023
  • World

    New York Democrat Dan Goldman Accuses ‘Conservatives in the South’ of Holding Rallies with ‘Swastikas’

    October 13, 2023

    IDF Ret. Major General Describes Rushing to Save Son, Granddaughter During Hamas Invasion

    October 13, 2023

    Black Lives Matter Group Deletes Tweet Showing Support for Hamas 

    October 13, 2023

    AOC Denounces NYC Rally Cheering Hamas Terrorism: ‘Unacceptable’

    October 13, 2023

    L.A. Prosecutors Call Out Soros-Backed Gascón for Silence on Israel

    October 13, 2023
  • Business

    EXCLUSIVE: ‘The Man She Is Today’: European Companies Accused Of ‘Importing’ Woke Ideology

    May 29, 2025

    ‘The Economy Is On Fire!’: Kevin O’Leary Drops Fact Check On CNN Panelists Railing Against Trump’s Economy

    May 29, 2025

    DeSantis Signs Bill Making Gold And Silver Legal Tender

    May 28, 2025

    John Deere Announces $20 Billion Plan To Build Up American Manufacturing

    May 28, 2025

    EV Startup Promised To Cut China Ties — Then Reportedly Shared US Data Anyway

    May 27, 2025
  • Finance

    Ending China’s De Minimis Exception Brings 3 Benefits for Americans

    April 17, 2025

    The Trump Tariff Shock Should Push Indonesia to Reform Its Economy

    April 17, 2025

    Tariff Talks an Opportunity to Reinvigorate the Japan-US Alliance

    April 17, 2025

    How China’s Companies Are Responding to the US Trade War

    April 16, 2025

    The US Flip-flop Over H20 Chip Restrictions 

    April 16, 2025
  • Tech

    Cruz Confronts Zuckerberg on Pointless Warning for Child Porn Searches

    February 2, 2024

    FTX Abandons Plans to Relaunch Crypto Exchange, Commits to Full Repayment of Customers and Creditors

    February 2, 2024

    Elon Musk Proposes Tesla Reincorporates in Texas After Delaware Judge Voids Pay Package

    February 2, 2024

    Tesla’s Elon Musk Tops Disney’s Bob Iger as Most Overrated Chief Executive

    February 2, 2024

    Mark Zuckerberg’s Wealth Grew $84 Billion in 2023 as Pedophiles Target Children on Facebook, Instagram

    February 2, 2024
  • More
    • Sports
    • Entertainment
    • Lifestyle
Patriot Now NewsPatriot Now News
Home»Business»Global factories struggle for momentum amid patchy demand
Business

Global factories struggle for momentum amid patchy demand

June 1, 2023No Comments4 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
Share
Facebook Twitter LinkedIn Pinterest Email
  • Euro zone factory downturn deepened in May
  • China’s May Caixin PMI unexpectedly rises
  • China’s patchy recovery casts shadow over Asia’s economies

LONDON/TOKYO, June 1 (Reuters) – Sluggish global demand deepened the decline in manufacturing activity across Europe and remained a major challenge for many of Asia’s big exporters, business surveys for May showed on Thursday.

Purchasing managers’ indexes (PMIs) for the euro zone moved further below breakeven despite factories cutting prices for the first time since September 2020. In Britain, output fell for a third month in a row and new orders declined at the fastest pace in four.

And while PMIs from China and Japan showed swings in factory activity to growth last month, they stood in contrast to weak indicators from South Korea, Vietnam and Taiwan, where declines continued.

Compiled by S&P Global, Thursday’s HCOB final manufacturing PMI for the euro zone fell to 44.8 from April’s 45.8, just ahead of a preliminary reading of 44.6 but below the 50 mark separating growth from contraction for an 11th consecutive month.

An index measuring output, which feeds into a composite PMI due on Monday that is seen as a good guide to economic health, dropped to a six-month low of 46.4 from 48.5.

“The weakness in demand in the manufacturing sector, which has become increasingly evident since the beginning of the year in falling PMI readings, has now led the surveyed companies to reduce their production for the second month in a row,” said Cyrus de la Rubia, chief economist at Hamburg Commercial Bank.

“The decline in new orders from home and abroad signals that the weakness in output is likely to persist for several more months.”

See also  TikTok and Beyond: How China’s Ascendancy in Digital Technology Challenges the Global Order 

The decline was broad based with activity falling in the currency union’s four biggest economies – Germany, France, Italy and Spain.

Factories cutting prices as the costs of production dropped at the fastest pace since February 2016 failed to stem a fall in demand.

That price drop will likely be welcomed by policymakers at the European Central Bank who have failed so far to get inflation back to target despite embarking on their most aggressive policy-tightening programme in the Bank’s history.

Inflation was 6.1% last month, over three times the ECB’s goal, official data showed on Thursday.

ASIA DIVERGES

The patchy set of Asian PMIs pointed to an uneven recovery from the pandemic, particularly in China, and clouds the outlook for growth in the region.

“The PMI surveys suggest that China’s economic recovery was still ongoing in May, albeit at a slower pace. Waning fiscal support weighed on construction activity,” said Julian Evans-Pritchard, analyst at Capital Economics.

“But manufacturing output ticked up and the service sector is still seeing decent gains, suggesting that Q2 GDP growth may not be as bad as many fear.”

China’s Caixin/S&P Global manufacturing PMI rose to 50.9 in May from 49.5 in April.

The reading surpassed expectations of 49.5 in a Reuters poll, a stark contrast to a deeper contraction in activity seen in the official PMI released on Wednesday.

But China’s business confidence for the coming 12 months fell to a seven-month low amid concerns over global economic prospects, the Caixin survey showed.

Japan’s final au Jibun Bank PMI rose to 50.6 in May, its first reading above the 50.0 threshold since October, as the economy’s delayed re-opening from pandemic curbs lifted demand.

See also  Backlash Continues: Bud Light Is Now Cheaper Than Water In Some Places

However, separate data released on Wednesday showed Japanese factory output unexpectedly fell in April.

Elsewhere in Asia, South Korea’s PMI stood at 48.4 in May, slumping into its longest spell of contractionary readings in 14 years, as slowing global demand hit output and orders.

Vietnam, Malaysia and Taiwan also saw factory activity shrink in May, while that of the Philippines expanded, the surveys showed.

India’s factory activity expanded at the quickest pace since October 2020, a sign strong demand and output were supporting Asia’s third-largest economy.

Reporting by Jonathan Cable and Leika Kihara; Editing by Sam Holmes and Mark Potter

: .

demand Factories Global Momentum patchy Struggle
Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

EXCLUSIVE: ‘The Man She Is Today’: European Companies Accused Of ‘Importing’ Woke Ideology

May 29, 2025

‘The Economy Is On Fire!’: Kevin O’Leary Drops Fact Check On CNN Panelists Railing Against Trump’s Economy

May 29, 2025

DeSantis Signs Bill Making Gold And Silver Legal Tender

May 28, 2025

John Deere Announces $20 Billion Plan To Build Up American Manufacturing

May 28, 2025
Add A Comment

Leave A Reply Cancel Reply

Top Posts

Stephen A. Smith puts Zion Williamson on notice, says he’s ‘raising suspicions’ with his comments about absence

April 13, 2023

Jack Smith Appears To Have Gotten One Of Trump’s Top Aides

June 7, 2023

Elon Musk’s SpaceX Hired A New Engineer. He Is 14 Years Old

June 11, 2023

Manchester City vs Leeds United Prediction and Betting Tips

May 5, 2023
Don't Miss

EXCLUSIVE: ‘The Man She Is Today’: European Companies Accused Of ‘Importing’ Woke Ideology

Business May 29, 2025

Consumers’ Research issued a “Woke Alert” on Thursday warning American shoppers that three European companies…

‘The Economy Is On Fire!’: Kevin O’Leary Drops Fact Check On CNN Panelists Railing Against Trump’s Economy

May 29, 2025

DeSantis Signs Bill Making Gold And Silver Legal Tender

May 28, 2025

John Deere Announces $20 Billion Plan To Build Up American Manufacturing

May 28, 2025
About
About

This is your World, Tech, Health, Entertainment and Sports website. We provide the latest breaking news straight from the News industry.

We're social. Connect with us:

Facebook Twitter Instagram Pinterest
Categories
  • Business (4,136)
  • Entertainment (4,220)
  • Finance (3,202)
  • Health (1,938)
  • Lifestyle (1,645)
  • Politics (3,084)
  • Sports (4,036)
  • Tech (2,006)
  • Uncategorized (4)
  • World (3,944)
Our Picks

How to find the Shopkeeper and unlock secret items in Warzone 2’s DMZ

May 25, 2023

India’s IDFC First Bank says merger will boost credit growth

July 13, 2023

Local Restaurants Can’t Keep Up With Minimum Wage Hikes, Inflation

March 5, 2024
Popular Posts

EXCLUSIVE: ‘The Man She Is Today’: European Companies Accused Of ‘Importing’ Woke Ideology

May 29, 2025

‘The Economy Is On Fire!’: Kevin O’Leary Drops Fact Check On CNN Panelists Railing Against Trump’s Economy

May 29, 2025

DeSantis Signs Bill Making Gold And Silver Legal Tender

May 28, 2025
© 2025 Patriotnownews.com - All rights reserved.
  • Contact
  • Privacy Policy
  • Terms & Conditions

Type above and press Enter to search. Press Esc to cancel.