Input Stories

In June, global manufacturing activity stabilized, rising from 49.5 to 50.3. Output and new orders returned to growth in June, pushing up the PMI. New export orders continued to decline but at a slower pace than the prior month. Nevertheless, the outlook remained subdued, with the level of positive sentiment unchanged from May and below the survey’s long-run average.

India, Ireland, Greece and the U.S. had the highest PMI readings in June. On the other hand, the U.K., Brazil, Mexico and Russia were some of the larger nations to register declines in activity. The rise in manufacturing output was seen across the consumer, intermediate goods and investment goods categories, with growth strongest in the latter two categories.

Additionally, manufacturing employment fell for the 11th consecutive month in June but at the slowest rate since August 2024. Although staffing levels rose in the U.S., Japan and India, they sank notably in China, the Eurozone and the U.K. Meanwhile, price pressures diverged, with the U.S. experiencing sharp increases in both input and output costs. In contrast, average prices fell in mainland China and the Eurozone, and prices were subdued elsewhere.