{"id":685,"date":"2026-06-01T13:09:52","date_gmt":"2026-06-01T13:09:52","guid":{"rendered":"https:\/\/reliablemovingcrews.com\/?p=685"},"modified":"2026-06-01T13:09:52","modified_gmt":"2026-06-01T13:09:52","slug":"factories-face-soaring-costs-as-iran-war-causes-supply-shocks","status":"publish","type":"post","link":"https:\/\/reliablemovingcrews.com\/?p=685","title":{"rendered":"Factories face soaring costs as Iran war causes supply shocks"},"content":{"rendered":"<div>\n<div>\n<div>\n<ul>\n<li>Summary<\/li>\n<\/ul>\n<\/div>\n<div><\/div>\n<\/div>\n<div>LONDON\/TOKYO, June 1 (Reuters) &#8211; The economic shock from \u200bthe Iran war hit European factories last month, suppressing demand for their goods and pushing up raw \u200cmaterial costs at the fastest rate in four years, although their Asian peers saw activity expand due to stockpiling, surveys showed on Monday.<\/div>\n<div>The U.S.-Israeli conflict with Iran, which began in late February, has upended trade, rattled financial markets and raised concerns over global energy supplies, particularly through the \u200bStrait of Hormuz, a key route for oil and gas shipments.<\/div>\n<div>Monday&#8217;s surveys came after the heads of the International \u200bEnergy Agency, International Monetary Fund, World Bank and World Trade Organization warned the war was straining \u2060global energy supplies.<\/div>\n<div>S&amp;P Global&#8217;s Eurozone Manufacturing PMI(INPMI=ECI)<svg><\/svg><span>, opens new tab<\/span> fell to 51.6 in May from April&#8217;s near four-year high of 52.2, but ahead of \u200ba preliminary estimate of 51.4.<\/div>\n<div>A reading above 50.0 indicates growth.<\/div>\n<div>&#8220;Although euro area manufacturers reported an expansion for a fourth successive month \u200bin May, the sector is showing signs of struggling under the weight of rising prices and supply disruptions emanating from the war in the Middle East,&#8221; said Chris Williamson, chief business economist at S&amp;P Global Market Intelligence.<\/div>\n<div>In Germany, Europe&#8217;s largest economy, the manufacturing sector stalled while French factories saw a \u200bcontraction for the first time since November.<\/div>\n<div>The European Central Bank will hike its deposit rate this month and at least once more \u200bthis year to try to stop higher energy prices feeding into core inflation, according to a majority of economists polled by Reuters in \u200cMay.<\/div>\n<div>Official data \u2060due on Tuesday is expected to show inflation rose further above the ECB&#8217;s 2% target last month.<\/div>\n<div>British factories raised their prices at the fastest rate since June 2022 last month in response to a big increase in costs.<\/div>\n<h2>ASIAN BUFFERS<\/h2>\n<div>Still, factory activity expanded in most Asian economies.<\/div>\n<div>China&#8217;s private sector gauge grew for a sixth straight month and South Korea&#8217;s hit the fastest pace in \u200bfive years, highlighting a region-wide push \u200bto build buffers against \u2060potential conflict-led disruptions.<\/div>\n<div>The RatingDog China General Manufacturing PMI, compiled by S&amp;P Global, fell to 51.8 in May from 52.2 in April, but was slightly better than analysts&#8217; forecast of 51.6.<\/div>\n<div>That outcome contrasted \u200bwith an official survey showing factory activity in the world&#8217;s second-largest economy stalled last month as \u200bnew orders contracted \u2060and input costs kept rising.<\/div>\n<div>Japan&#8217;s factory activity also expanded with the PMI at 54.5 in May, slowing from April&#8217;s more than four-year high of 55.1, though firms there reported the sharpest rise in input costs since September 2022 due to higher raw material prices.<\/div>\n<div>South \u2060Korea&#8217;s PMI \u200brose to its highest since March 2021 at 54.8 in May, up \u200bfrom 53.6, again underlining firms&#8217; drive to lock in supplies.<\/div>\n<div>In Vietnam, the factory PMI gauge rose to 52.8 from 50.5, while Taiwan&#8217;s rose to 56.1 from 55.3, \u200bsurveys showed. The index for the Philippines jumped to 50.8 from 48.3.<\/div>\n<\/div>\n<p>Read more <a href=\"https:\/\/reliablemovingcrews.com\/?p=683\">Mapping the Market: Threats to dollar rebound emerge<\/a><\/p>\n<p>Read more <a href=\"https:\/\/reliablemovingcrews.com\/?p=681\">India\u2019s viral \u2018Cockroach\u2019 youth group plans street protest in challenge to Modi<\/a><\/p>\n<p>Read more <a href=\"https:\/\/reliablemovingcrews.com\/?p=677\">Hungary\u2019s Magyar threatens legal action if president refuses to resign<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The economic shock from \u200bthe Iran war hit European factories last month, suppressing demand for their goods and pushing up raw \u200cmaterial costs at the fastest rate in four years, although their Asian peers saw activity expand due to stockpiling, surveys showed on Monday.<\/p>\n","protected":false},"author":1,"featured_media":684,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[110],"class_list":["post-685","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-asian-markets"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.6 - 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