Hit four-month high in June, but stuck below 50 and remained in contraction
The Manufacturing Purchasing Managers' Index (PMI) rose to 49.3 in June (Apr: 48.8), remaining below the neutral 50.0 threshold for the 13th consecutive month since June 2024
- June’s reading signals a slight deterioration in manufacturing conditions at the end of 2Q25. The average PMI stood at 48.9 in 2Q25 (1Q25: 49.1) suggesting that Manufacturing GDP growth is likely to remain stable.
Subdued demand continued to weigh on orders, output, and inventory
- Total new orders declined for the fourth straight month due to subdued client confidence. However, the pace of decline eased, supported by a smaller drop in new export orders. Some firms reported a gradual improvement in demand.
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