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S&P Global’s Manufacturing PMI for South Korea rose to 47.7 in May, up from April’s 47.5, but remains below the 50 threshold, indicating continued contraction in the factory sector.

Industrial production fell 0.9% MoM in April—reversing March’s 2.9% rise and missing forecasts for a 0.5% gain—though it still rose 4.9% YoY (vs. 4.2% forecast and 5.3% in March). Retail sales slid 0.9% MoM, worsening from a 0.3% drop, while service-sector output edged down 0.1%, compared with a 0.3% decline in March, underscoring broad‐based cooling in the economy.

The South African Reserve Bank cut its benchmark repo rate by 25 bps to 7.25%, matching market expectations and down from 7.50%. The prime lending rate fell to 10.75% from 11.00%, aiming to support borrowing costs for businesses and households amid moderating inflation.

Brazil’s unemployment rate dipped to 6.6% in April, below the 6.9% forecast and down from March’s 7.0%, pointing to strengthening labour market conditions.

Türkiye’s statistical agency reports factory capacity utilization at 75.0% in May, up from 74.3% in April, indicating stronger use of industrial resources. Meanwhile, the manufacturing confidence index dipped to 101.4, down from 103.2, signalling slightly weaker business sentiment in the sector.

India’s S&P Global Manufacturing PMI rose to 58.3 in May, beating the 58.0 consensus and up from April’s 58.2, signalling continued robust factory expansion. The Services PMI jumped to 61.2, well above the 58.3 forecast and April’s 58.7, marking a strong acceleration in service-sector activity.

INEGI reports retail sales rose 0.5% month-on-month in March, well above the 0.1% forecast and reversing February’s 0.2% gain. On a year-on-year basis, sales climbed 4.3%, far exceeding the 2.2% consensus and snapping a 1.1% decline, signaling a robust rebound in consumer spending.

Stats SA reports that retail sales rose 1.5% year-on-year in March, down from February’s 4.1%, signalling a noticeable moderation in consumer spending amid economic headwinds.

Stats SA reports that headline CPI rose 0.3% month-on-month in April, below the 0.4% recorded in March, bringing annual inflation to 2.8%, slightly above March’s 2.7%. Core CPI, which strips out volatile items, increased just 0.1% MoM (versus 0.5% in March) and 3.0% YoY, under March’s 3.1%, signaling that underlying price pressures are cooling.

The Consumer Confidence Index climbed to 84.8 in May, up from April’s 83.9, signaling a modest improvement in household sentiment.

Brazil’s IBC-Br gauge of economic activity rose 0.80% month-on-month in March, beating the 0.50% forecast and up from February’s 0.40% gain, signaling continued expansion in the country’s economic output.

Israel’s unemployment rate for the quarter to April stood at 3.00%, above the 2.90% forecast, pointing to a modest softening in the labor market.