Banks lead Asian sector growth in May in World Economy News 04/06/2026 Banks led output growth across Asian sectors in May for the first time in seven months, according to S&P Global Asia Sector PMI data released today. Banking activity surged at the second-steepest rate in over five and a half years, behind only last October. Automobiles & Auto Parts, which topped the rankings in April, fell to second place, though growth remained sharp. Output growth was recorded across 16 of the 18 monitored Asian sectors in May, unchanged from April. Forestry & Paper Products and Construction Materials were the only sectors to contract, with both experiencing weaker declines compared to April. Construction Materials reported only a fractional reduction in output. New orders expanded across 16 tracked categories, with Transportation recording the strongest upturn. More than half of the sectors saw sales growth ease in May. Forestry & Paper Products and Construction Materials were the only two sectors to see a fall in new orders, with rates of decrease quickening but remaining mild. Employment growth was recorded in only 10 of the 18 monitored sectors in May, down from 11 in March and April. Software & Services and Technology Equipment recorded the strongest increase in headcounts, though the upturns were only moderate. Insurance firms saw payroll numbers fall solidly. All 18 monitored sectors reported an increase in operating expenses in May. Chemicals recorded the sharpest rate of cost inflation. All tracked sectors except Consumer Services raised their selling prices. The S&P Global Asia Sector PMI indices are compiled from responses to questionnaires sent to purchasing managers in Asian PMI survey panels, covering over 6,000 Asian private sector companies. Source: Investing.com 2026-06-04 hellenicshippingnews... tweet Share