Key Events Around the Globe: Feb 03

US Manufacturing Rebounds in January amid Strong Order Growth

U.S. factory activity grew for the first time in a year in January, with new orders rebounding sharply, but manufacturing is still not out of the woods as import tariffs raised raw material prices and strained supply chains.

The Institute for Supply Management said on Monday its manufacturing PMI rebounded to 52.6 last month. It was the first time in 12 months that the PMI was above 50 and the highest reading since August 2022, indicating growth in manufacturing, which accounts for 10.1% of the economy.

The PMI was at 47.9 in December, and had been in contraction territory for 10 straight months. Economists polled by Reuters had forecast the PMI rising to 48.5.

South Korea January Inflation +2.0% y/y, in Line with Forecast

South Korea’s consumer inflation eased to a five-month low in January, largely in line with market expectations, government data showed on Tuesday. The consumer price index rose 2.0% from a year earlier, compared with gains of 2.3% in the previous month and a median 2.05% increase tipped in a Reuters poll of economists.

Canada Manufacturing PMI Expands for the First Time in a Year

Canada’s manufacturing sector grew in January, its first such expansion in a year, data showed on Monday, as sentiment improved to a three-month high amid expectations of economic growth this year. However, new orders continued to fall in January and tariffs weighed the overall sector down with falling exports and rising input costs. The S&P Global Canada Manufacturing Purchasing Managers’ Index (PMI) moved up to 50.4 in January, up from 48.6 in December.

UK Business Sentiment Improves in January, Institute of Directors Says

British businesses’ confidence in the economic outlook has continued to improve from very weak levels, a survey for January showed, extending gains since finance minister Rachel Reeves’ November budgetimposed fewer immediate tax rises than feared.

The Institute of Directors said on Monday that optimism about prospects for the UK economy remained deep within negative territory, but it rose to-48 in January from-66 in December and was the highest level since last May. It hit an all-time low of-74 in September for the series, which started in 2016.

Source: HSL Prime Daily, 03 Feb 2026

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