Group 1 - Eurozone composite PMI rose from 50.9 in July to 51.1 in August, exceeding analyst expectations of 50.6 [2] - Manufacturing PMI increased from 49.8 to 50.5, marking the first time since June 2022 that it surpassed the neutral level of 50, also above the expected 49.5 [2] - Service sector PMI slightly decreased to 50.7 but remained in the expansion zone [2] Group 2 - Germany's composite PMI unexpectedly accelerated to a five-month high of 50.9, with manufacturing PMI jumping to 49.9, nearing expansion territory [2] - Manufacturing output index in Germany rose to 52.6, indicating growth [2] - France's composite PMI improved from 47.4 to 49.8, although still below the neutral line, it was better than expected [2] Group 3 - The impact of US trade policies is becoming evident, with Eurozone manufacturing foreign orders declining for the second consecutive month, influenced by US tariff policies [3] - European Central Bank President Christine Lagarde noted that the new 15% tariff on most EU goods is slightly higher than previous predictions but lower than more severe scenarios [3] - Recent PMI data provides more evidence for ECB policymakers, with expectations that the ECB will maintain the key deposit rate at 2% in September [3]

Group 1 - The Eurozone's business activity growth accelerated in August, with the composite PMI rising to 51.1, up from 50.9 in July, marking the highest level since May 2024 and exceeding the expected value of 50.7 [1] - The manufacturing PMI in the Eurozone increased to 50.5, the first return to expansion territory in three years, with the output sub-index reaching 52.3, the fastest growth in nearly three and a half years [1] - The services PMI slightly decreased to 50.7, indicating a slight slowdown in expansion [1] Group 2 - Germany's private sector activity improved slightly in August, primarily supported by better-than-expected manufacturing performance, with the manufacturing PMI rising to 49.9, the highest level since June 2022 [2] - New factory orders in Germany saw significant growth, although export sales experienced a slight decline for the first time in five months [2] - The services PMI in Germany fell to 50.1, reflecting a small decline in new business volume and indicating stagnation in growth momentum [2] Group 3 - France's overall business activity remained stable in August, with the manufacturing PMI rising to 49.9, the highest level since January 2023, despite challenges from weakened international competitiveness and trade environment issues [2] - The services PMI in France improved to 49.7, the highest level in a year, indicating a narrowing decline in output and a slowdown in the contraction of new business [3] - Employment in the French services sector showed improvement, with companies increasing both permanent and temporary hiring [3] Group 4 - Moody's analysts believe that while tariffs may weigh on the Eurozone economy, they are not sufficient to derail it [4]

Core Insights - The latest S&P report indicates that UK business activity in August has shown the strongest growth momentum in a year, with the S&P Global UK Composite Purchasing Managers' Index (PMI) rising to 53.0, significantly above market expectations [1][2] Economic Indicators - The August Composite PMI preliminary value increased from 51.5 in July to 53.0, surpassing the market expectation of 51.6, marking the highest level since August 2024, indicating that the UK economy has entered an expansion phase [1] - The Services PMI rose to 53.6, serving as the main growth driver, while the Manufacturing PMI fell to 47.3, reaching a three-month low, indicating ongoing contraction in the manufacturing sector [1] Employment and Cost Pressures - Overall business activity has strengthened, and the decline in employment levels has narrowed compared to July, although companies continue to face rising labor cost pressures due to the government's increase in employer social security tax and minimum wage [1] - The service sector has experienced the fastest price increase in three months, potentially intensifying inflationary pressures and complicating policy adjustments for the Bank of England [1] Future Outlook - UK businesses' expectations for future operations have risen to the highest point since October 2024, reflecting a recovery in confidence [1] - Analysts note a "mixed" economic landscape in the UK, with the service sector supporting overall growth while the manufacturing sector remains under pressure due to a weak global trade environment [2]

Group 1 - Eurozone's composite PMI for August rose to 51.1, up from 50.9 in July, marking the highest level since May 2024 and exceeding the expected value of 50.7 [1] - Manufacturing PMI in the Eurozone increased to 50.5, the first return to expansion territory in three years, with the output sub-index reaching 52.3, the fastest growth in nearly three and a half years [1] - Service sector PMI slightly decreased to 50.7, indicating a slight slowdown in expansion [1] Group 2 - Germany's manufacturing PMI for August improved to 49.9, up from 49.1 in July, indicating a gradual approach to stability, supported by a significant rise in new factory orders [2] - New orders in Germany's manufacturing sector grew at the fastest pace since March 2022, although export sales saw a slight decline for the first time in five months [2] - Germany's service sector PMI fell to 50.1, reflecting a small decline in new business volume after a recent increase, indicating stagnation in growth momentum [2] Group 3 - France's manufacturing PMI for August rose to 49.9, significantly up from 48.2 in July, marking the highest level since January 2023, despite challenges from weakened international competitiveness and trade environment issues [2] - France's service sector PMI improved to 49.7, the highest level in a year, showing a reduction in the rate of output decline and a slowdown in the contraction of new business [3] - The employment situation in France's service sector showed improvement, with companies increasing both permanent and temporary hiring, marking the strongest employment growth since April 2024 [3] Group 4 - ECB President Lagarde noted that recent trade agreements have alleviated some global uncertainties, with a strong labor market and domestic demand being key drivers of Eurozone growth [3] - Moody's analysts believe that while tariffs may weigh on the Eurozone economy, they are not sufficient to derail it [4]

Group 1 - The Eurozone private sector expanded at the fastest pace in 15 months, with the composite Purchasing Managers' Index (PMI) rising from 50.9 in July to 51.1 in August, exceeding analysts' expectations of 50.6 [1][4] - The manufacturing PMI increased to 50.5, marking the first expansion since June 2022, while the service sector showed slight weakening but remained in line with expectations [1][4] - Germany's manufacturing sector is nearing the end of a three-year downturn, indicating a potential recovery in the Eurozone economy [1][4] Group 2 - Despite challenges such as US tariffs and general uncertainty, businesses across the Eurozone are performing relatively well, as noted by economists [4] - The Euro to US dollar exchange rate stabilized at 1.1654, while German 10-year bond yields rose by 2 basis points to 2.73%, reflecting market confidence [4] - The Eurozone's economy unexpectedly grew by 0.1% in the second quarter, although this was significantly lower than the previous quarter's growth of 0.6% [4] Group 3 - The European Central Bank (ECB) is expected to maintain the deposit rate at 2% during the September meeting, following a pause in rate changes after eight consecutive cuts [5] - The UK composite PMI rose to 53 in August, outperforming market expectations, while the US composite PMI data is anticipated to remain above 50 [5]

Core Insights - In the first half of the year, Kenya saw a total of 74,740 new registered businesses, marking a 10.9% increase compared to the same period last year, reversing a 7.6% decline for the entire year of 2024 [1] - The number of new companies registered from January to June 2025 is the highest recorded by the Business Registration Service (BRS) since it began tracking in 2016 [1] - This trend reflects the adaptability and resilience of entrepreneurs in the face of rising business costs and a challenging operating environment [1] - However, the Purchasing Managers' Index (PMI) for July was only 46.8, the lowest level since July 2024, indicating potential concerns in the private sector [1]

Group 1: Manufacturing Sector - The PMI for Vietnam in July reached 52.4, marking the first time in four months it surpassed the 50-point threshold, indicating expansion in the manufacturing sector [1] - New orders in Vietnam have rebounded, achieving the fastest growth since November 2024 [1] Group 2: Wood and Wood Products Industry - As of the end of July, Vietnam's wood and wood products export total reached $9.6 billion, reflecting a year-on-year increase of 7.9% [1] - The wood industry is projected to export approximately $7 billion in the last five months of the year, leading to an estimated total export of $17 billion for the year [1] Group 3: Agricultural and Seafood Sector - The agricultural and seafood sectors are also showing resilience, with the Fucim Group reporting an export value of approximately $30.5 million for the fiscal year 2024-2025, a nearly 25% increase [1] - Key products like pepper and coffee have seen significant price increases, contributing to the overall growth [1] Group 4: Seafood Export Performance - Vietnam's seafood export value reached $6.22 billion in the first seven months of the year, representing a growth of 17.2% [2] - The U.S. market for Vietnamese seafood grew by 10.4%, while the Chinese market saw a remarkable increase of 42.6%, reaching $1.33 billion [2] - Increased imports from China have provided opportunities for Vietnamese companies ahead of the U.S. implementing reciprocal tariff policies [2]

Group 1 - The UK economy showed only slight growth in July, with employment numbers decreasing at the fastest rate in five months [1][2] - The S&P Global UK Composite PMI fell from 52.0 in June to 51.0 in July, slightly above the 50.0 mark that separates growth from contraction [2] - The employment index dropped to 45.1, the lowest since February, attributed to increased employee social security contributions starting in April [2] Group 2 - Concerns over weak demand are affecting hiring decisions, with expectations that the Bank of England will implement its fifth interest rate cut in August despite inflation rising to 3.6% in June [2] - The PMI data indicates a quarterly economic growth rate of only 0.1%, with risks of further weakness [2] - The PMI also highlights the Bank of England's dilemma, as price growth has accelerated for the first time since April due to suppliers trying to offset increased tax and wage costs [2] Group 3 - The GBP/USD is currently in a downtrend, with technical indicators suggesting a potential acceleration of decline if it breaks below 1.3100 [3]

Core Viewpoint - The manufacturing sector in Spain experienced its fastest growth in July 2023, with production and new orders reaching their highest levels of the year, indicating a positive trend in the industry [1] Group 1: PMI Data - The Purchasing Managers' Index (PMI) for Spain's manufacturing sector rose from 51.4 in June to 51.9 in July, marking the third consecutive month of growth [1] - This growth rate is the highest since December 2024, when the PMI was at 53.3 [1] Group 2: Production and Demand - The increase in production is attributed to new projects and a growing demand, primarily driven by domestic needs [1] - Industrial production has expanded for three consecutive months, with expectations for further support in the coming months due to an improving demand environment [1]

Group 1 - Silver market shows strong upward momentum, outperforming gold with a year-to-date increase of approximately 35% compared to gold's nearly 28% rise [1] - Current silver price is attempting to maintain above the critical level of $39 per ounce, following a prolonged supply shortage lasting 7 years [1] - Spot gold price has fallen below the important threshold of $3360.23 per ounce, while spot silver has shown a slight increase of 0.02% to $39.03 per ounce [1] Group 2 - The S&P Global Purchasing Managers' Index (PMI) indicates that the US composite PMI rose from 52.9 in June to 54.6 in July, with the services PMI significantly increasing to 55.2, reflecting accelerated economic activity [2] - Strong PMI data supports the Federal Reserve's decision to maintain current interest rates, while also boosting the US dollar index and US Treasury yields [2] - Upcoming US durable goods orders data is crucial as it may provide new insights into gold price trends, with strong data potentially reinforcing economic recovery expectations and further pressuring gold prices [2] Group 3 - Spot gold experienced fluctuations with a downward trend, while spot silver remains near a 14-year high, hovering around levels last seen in September 2011 [3] - Silver's recent price action is supported by a weak dollar, with a weekly increase of nearly 2.36%, despite a slight daily decline of 0.50% [3] - Silver continues to trade well above its 9-day, 21-day, and 50-day moving averages, maintaining a bullish technical structure [3]