Slower Contractions in Key Sub-Indexes

Tariff levies on US goods were lowered to 10 percent from 125 percent. The tariff reprieve is meant to last 90 days, during which time negotiators hope to secure a longer-term agreement.

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FROM A1:

However, on May 30, President Trump accused China of violating terms of the truce on tariffs, a claim China has responded to with its own accusations of US wrongdoing.

Said Mr. Poh: "Amid the geopolitical fragmentation, supply chain disruptions are becoming more frequent and less predictable."

Still, the latest PMI reading reflects slower contractions in key sub-indexes such as new orders, factory output, and employment and faster expansions of input purchases and imports.

Input prices, finished goods, and order backlog also contracted at a slower pace, while the future business index shrank at a faster pace compared with April.