logo
Polish manufacturing sector contracts sharply in May, PMI shows, ET Manufacturing

Polish manufacturing sector contracts sharply in May, PMI shows, ET Manufacturing

Time of India2 days ago

Industry
1 min read
Polish manufacturing sector contracts sharply in May, PMI shows
​The S&P Global Poland Manufacturing Purchasing Managers' Index (PMI) dropped to 47.1 in May from 50.2 in April, marking the steepest monthly decline since June 2022. A reading below 50 indicates a contraction in activity, while above 50 denotes growth.

Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Asian shares rise at open after US jobs surprise
Asian shares rise at open after US jobs surprise

Economic Times

time21 minutes ago

  • Economic Times

Asian shares rise at open after US jobs surprise

Live Events (You can now subscribe to our (You can now subscribe to our ETMarkets WhatsApp channel Asian stocks rose at the open after data showed the US labor market is holding up despite concerns about risks from President Donald Trump's tariff war.A regional gauge rose 0.3%, its first advance in four days. South Korean stocks led the moves with a 1.6% jump for the Kospi Index after the country elected a new president, capping six months of chaos. The dollar was steady in early Asian trading after gaining in the prior session. The S&P 500 rose 0.6% while the Nasdaq 100 advanced 0.8%.Just days ahead of the US payrolls report, an unexpected increase in job openings buoyed sentiment during the US trading session. That helped offset earlier losses in stocks after the Paris-based OECD said Trump's combative trade policies have tipped the world economy into a downturn, with the US among the hardest hit.'Further signs of resilience in the US economic data are pushing the US stock market higher despite continued downside risks from US trade policy,' Kyle Rodda, a senior market analyst at wrote in a note Wednesday. 'Wall Street defied recent tariff hikes and signs of reinflamed tensions between the US and China to rise once again.'The rise in job openings reinforced the Federal Reserve's assertion that the labor market is in a good place. While some economists fear a more notable weakening in coming months under the weight of tariffs, that hasn't shown up in the data yet, supporting officials' posture to keep rates swaps market continues to price in two Federal Reserve rate reductions this year beginning in October. However, traders are ramping up bets that hedge against dramatic shifts in the path as questions on the economic impact of Trump's administration evolving policies higher-than-expected job openings number 'is a good sign for the economy, as many were worried that the tariff uncertainty was weighing too heavily on businesses,' said Chris Zaccarelli at Northlight Asset the trade front, the US reiterated that Trump and Chinese President Xi Jinping will talk 'very soon.' The administration is actively monitoring China's compliance with the Geneva trade agreement, White House Press Secretary Karoline Leavitt Office of the US Trade Representative has sent letters to trading partners to remind them of an upcoming deadline in negotiations, according to the White House. Commerce Secretary Howard Lutnick said he's 'very optimistic' about prospects for a deal between the US and Asian corporate news, Toyota Industries Corp . shares slumped 13% after a privatization Trump signed a directive raising steel and aluminum tariffs to 50% from 25% starting Wednesday, following through on a pledge to boost import taxes to help domestic manufacturers. Prices for the metals in the US surged on Monday.

Asian shares rise at open after US jobs surprise
Asian shares rise at open after US jobs surprise

Time of India

time25 minutes ago

  • Time of India

Asian shares rise at open after US jobs surprise

Asian stocks experienced an initial surge following positive US labor market data, mitigating concerns about the impact of trade tensions. South Korean stocks notably led the gains after the election of a new president. Despite warnings from the OECD regarding the global economic downturn caused by trade policies, US markets demonstrated resilience, driven by encouraging economic indicators. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Asian stocks rose at the open after data showed the US labor market is holding up despite concerns about risks from President Donald Trump's tariff war.A regional gauge rose 0.3%, its first advance in four days. South Korean stocks led the moves with a 1.6% jump for the Kospi Index after the country elected a new president, capping six months of chaos. The dollar was steady in early Asian trading after gaining in the prior session. The S&P 500 rose 0.6% while the Nasdaq 100 advanced 0.8%.Just days ahead of the US payrolls report, an unexpected increase in job openings buoyed sentiment during the US trading session. That helped offset earlier losses in stocks after the Paris-based OECD said Trump's combative trade policies have tipped the world economy into a downturn, with the US among the hardest hit.'Further signs of resilience in the US economic data are pushing the US stock market higher despite continued downside risks from US trade policy,' Kyle Rodda, a senior market analyst at wrote in a note Wednesday. 'Wall Street defied recent tariff hikes and signs of reinflamed tensions between the US and China to rise once again.'The rise in job openings reinforced the Federal Reserve's assertion that the labor market is in a good place. While some economists fear a more notable weakening in coming months under the weight of tariffs, that hasn't shown up in the data yet, supporting officials' posture to keep rates swaps market continues to price in two Federal Reserve rate reductions this year beginning in October. However, traders are ramping up bets that hedge against dramatic shifts in the path as questions on the economic impact of Trump's administration evolving policies higher-than-expected job openings number 'is a good sign for the economy, as many were worried that the tariff uncertainty was weighing too heavily on businesses,' said Chris Zaccarelli at Northlight Asset the trade front, the US reiterated that Trump and Chinese President Xi Jinping will talk 'very soon.' The administration is actively monitoring China's compliance with the Geneva trade agreement, White House Press Secretary Karoline Leavitt Office of the US Trade Representative has sent letters to trading partners to remind them of an upcoming deadline in negotiations, according to the White House. Commerce Secretary Howard Lutnick said he's 'very optimistic' about prospects for a deal between the US and Asian corporate news, Toyota Industries Corp . shares slumped 13% after a privatization Trump signed a directive raising steel and aluminum tariffs to 50% from 25% starting Wednesday, following through on a pledge to boost import taxes to help domestic manufacturers. Prices for the metals in the US surged on Monday.

India's defense trade with Russia 'rubbed US wrong way'
India's defense trade with Russia 'rubbed US wrong way'

India Gazette

timean hour ago

  • India Gazette

India's defense trade with Russia 'rubbed US wrong way'

Howard Lutnick claimed that New Delhi is "addressing" Washington's concerns over its arms imports from Moscow India's long-established arms trade with Russia has become a bone of contention with Washington, US Secretary of Commerce Howard Lutnick said while addressing the eighth US-India Strategic Partnership Forum on Tuesday. The commerce secretary noted that US President Donald Trump had explicitly raised these issues with New Delhi and claimed that the Indian government was "taking steps to address" them. Lutnick also suggested that India is "starting to move towards buying military equipment from the US." "There were certain things that the Indian government did that generally rubbed the United States the wrong way. For instance, you generally buy your military gear from Russia. That's a way to kind of get under the skin of America if you're going to buy your armaments from Russia," he said. He added that India's participation in the BRICS group, which challenges the hegemony of the US dollar, is "not really the way to make friends and influence people in America." Currently, around 60% of the Indian military's equipment is of Russian origin. After the recent standoff with Pakistan, Modi praised the prowess of the country's air defense on Tuesday, particularly noting the performance of its Russian-made S-400 systems. "Platforms like the S-400 have given unprecedented strength to the country," Modi said in an address to the soldiers. The systems were acquired from Russia in 2016 at a cost of $5.4 billion, in defiance of a US threat to impose sanctions. Additionally, last month, India inaugurated a production unit for the BrahMos supersonic cruise missile in the northern state of Uttar Pradesh. The new facility will help New Delhi increase its defense stockpiles in light of what is a volatile security environment. Lutnik made his remarks on India's trade with Russia in the context of negotiations about a trade deal with India. While he reiterated Trump's view of India as "very protectionist," with tariffs on certain items reaching 100%, he said the countries are close to finalizing a trade pact that would benefit both. Lutnik stressed he is "very optimistic" about reaching a deal with India "in a not too distant future." The US is India's largest trading partner, with bilateral trade reaching $131 billion in the last fiscal year, according to government data. India exports more to the US than it imports, resulting in a trade surplus of over $41 billion. Meanwhile, New Delhi and Moscow have set a target of increasing bilateral trade to $100 billion over the next five years. Bilateral trade between the two nations skyrocketed since 2022 to cross the $60 billion mark despite immense pressure from the West on New Delhi to cut economic and political ties with Moscow.

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into the world of global news and events? Download our app today from your preferred app store and start exploring.
app-storeplay-store