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5d ago

India Leads Global Economic Growth in May as Advanced Economies Struggle

India's private sector activity surged to a 13-month high, while the U.S. showed modest growth; Europe and Japan faced persistent contractions.

Ariens workers install parts on Gravely brand lawn mowers at a company plant in Brillion, Wisconsin, U.S., March 5, 2025. REUTERS/Tim Aeppel/File Photo
Stand-up paddlers are seen on river Main during sun set behind the skyline with the banking district in Frankfurt, Germany, October 18, 2021. REUTERS/Kai Pfaffenbach/File Photo
A customer shops in the fish aisle inside a Sainsbury?s supermarket, in Richmond, West London, Britain February 21, 2024. REUTERS/Isabel Infantes/File Photo
People enjoy the sunset on a floating restaurant on the River Seine in Paris, France, June 25, 2023. REUTERS/Benoit Tessier/ File Photo

Overview

  • India recorded the highest global PMI readings in May, with manufacturing at 58.2 and services at 58.7, reflecting robust private sector expansion.
  • The U.S. composite PMI rose to 52.1, driven by gains in both manufacturing and services, signaling moderate economic growth despite inflationary pressures.
  • Japan's manufacturing PMI remained in contraction for the 11th consecutive month at 49.0, with factory output declining further.
  • The euro zone composite PMI dropped to 49.5, returning to contraction territory for the first time in 2025, with services activity notably weakening.
  • The U.K. composite PMI improved slightly to 49.4, but manufacturing continued to decline sharply, offsetting modest growth in the services sector.