May global trade conditions subdued despite stock-building: S&P GMI
Global trade conditions further deteriorated midway through Q2 2025 as the impact of additional US tariffs continued to dampen export performance, according to the worldwide PMI surveys compiled by S&P Global Market Intelligence. The manufacturing sector's export contraction persisted in May, at a slower pace over April’s. Manufacturers' confidence picked up in May from April's low.
Global trade conditions further deteriorated midway through Q2 2025 as the impact of additional US tariffs continued to dampen export performance, according to the worldwide PMI surveys compiled by S&P Global Market Intelligence.
The manufacturing sector's export contraction persisted in May, at a slower pace over April’s.
Manufacturers' confidence picked up in May from April's low.
