• Australia - 5/21/2025
• Japan - 5/22/2025
• India - 5/22/2025
• France - 5/22/2025
• Germany - 5/22/2025
• Eurozone - 5/22/2025
• UK - 5/22/2025
• US - 5/22/2025

Key Results

Japan

Japan’s S&P Flash PMI results pointed to weaker growth in May as the Flash Composite Output Index fell -1.4 pts to 49.8, signaling a slight decline in private sector growth.

• Service sector growth slowed from a moderately strong growth rate (52.4) in April to a weaker expansion in May (50.8) as domestic and foreign new order growth weakened.
• The contraction in manufacturing output worsened in May as the index fell -0.9 pts to 48.0. Industrial sentiment was the lowest seen since the pandemic.

India

India’s private sector expansion strengthened further in May as the Composite Output Index added 0.5 pts to 59.7, the highest since April 2024.

• Manufacturing output growth eased slightly, but a strong acceleration in service sector growth to the highest in 14 months led to the headline expansion.

Eurozone

Private sector growth in the Eurozone fell to a 6-month low on mixed factors as the Flash Composite PMI fell -0.9 pts to 49.5 in May.

• The Flash Manufacturing PMI improved 0.4 pts to 49.4, the highest in 33-months, as output grew for the third month in a row.
• The Flash Services PMI dropped -1.2 pts to 48.9, a 16-month low and the first decline since November 2024.

US

The Flash US Composite PMI increased 1.5 pts to 52.1 in May as private sector growth bounced off the 19-month low in April.

• The US Services PMI increased 1.5 pts to 52.3, and the US Manufacturing PMI increased 2.1 pts to 52.3 as both sectors saw healthier activity in May.
• Exports of services (which includes spending by foreigners in the US) fell at the sharpest rate since the pandemic lockdowns of early 2020, and before that, late 2014.

• Average prices charged for goods and services jumped higher in May, rising at a rate not witnessed since August 2022. Manufacturers’ selling prices grew at the fastest pace since August 2022, and services selling price inflation was the strongest since April 2023.
• General sentiment improved as activity improved and was the highest since January.