EconoTicker

The Reserve Bank of India cut its key interest rate to 5.50% (forecast: 5.75%; previous: 6.00%), by 50 bps. The unexpected move reflects easing inflationary pressures and aims to support economic growth.

South Korea’s Q1 GDP was flat year-on-year at 0.0% (forecast: –0.1%; Q4: 1.2%), marking a sharp slowdown from late 2024. On a quarter-on-quarter basis, GDP contracted by 0.2% (forecast: –0.2%; Q4: –0.2%), indicating continued economic softness.

Brazil’s S&P Global Composite PMI for May fell to 49.1 (April: 49.4), indicating continued contraction in overall economic activity. The S&P Global Services PMI rose to 49.6 (April: 48.9), remaining below the 50 threshold but signaling a modest improvement in the service sector.

South Africa’s S&P Global Manufacturing PMI rose to 50.8 in May, above the 50.0 forecast, signaling a return to expansion in factory activity.

India’s S&P Global Services PMI for May came in at 58.8—below the 61.2 forecast but slightly above April’s 58.7—signalling continued expansion in services, albeit at a slower pace than expected.

CPI rose 1.9% YoY in May—below the 2.1% forecast and down from April’s 2.1%—marking the weakest pace since December 2024. On a monthly basis, prices fell 0.1%, reversing April’s 0.1% gain and missing the 0.1% uptick expected, underscoring softening consumer demand.

Brazil’s industrial production rose 0.1% MoM in April, matching forecasts but slowing from March’s 1.2% gain. Year-on-year output fell 0.3%, below the 0.2% forecast and down from a 3.2% increase a year earlier, signaling weakening factory activity.

South Africa’s GDP rose 0.8% year-on-year in Q1, matching forecasts and unchanged from Q4. On a quarter-on-quarter annualized basis, output edged up just 0.1%, slightly above the 0.0% estimate but down from 0.6% in the prior quarter, underscoring weak economic momentum.

Turkey’s consumer prices rose 35.41% year-on-year in May, down from 37.86% in April and below the 36.10% forecast, indicating a modest easing of headline inflation. On a monthly basis, CPI increased 1.53%, slowing sharply from April’s 3.00% gain and missing the 2.00% estimate. Meanwhile, producer prices climbed 2.48% month-on-month—slightly below April’s 2.76% jump—and 23.13% year-on-year, up from 22.50%, underscoring persistent cost pressures at the factory gate.

Brazil’s S&P Global Manufacturing PMI fell to 49.4 in May, below the 50.3 forecast and marking a return to contraction territory as new orders and output weakened.

South Africa’s Manufacturing PMI fell to 43.1 in May, down from April’s 44.7, marking a sharper contraction in factory activity as new orders and output continue to wane.

S&P Global’s Manufacturing PMI for India fell to 57.6 in May, below the 58.3 forecast and down from April’s 58.2, though still signaling strong expansion in the factory sector.