Page 15 - Policy Economic Report- June'26

POLICY AND ECONOMIC REPORT
OIL & GAS MARKET

surveys, manufacturing activity generally remained more resilient than services, supported by inventory
rebuilding, technology-led investment, and relatively stronger domestic demand in selected economies.
However, businesses continued to face uncertainty arising from geopolitical risks, slowing global trade,
and higher production costs, resulting in divergent growth patterns across regions.

Figure 6: Composite PMIs, by impact of conflict in the Middle East

Source: Haver Analytics; United States International Trade Commission (USITC); World Bank

Among the advanced economies, the United States remained the strongest performer, with
manufacturing output expanding at its fastest pace since mid-2021. Robust domestic demand, continued
investment in artificial intelligence and advanced manufacturing, and precautionary inventory
accumulation ahead of potential supply disruptions supported industrial production.

Figure 7: Flash Composite PMI Output Indicators for G4 Advanced Economies (US, UK, Eurozone &
Japan)

Source: S&P Global PMI

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