Pantheon Macroeconomics

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  • ASEAN’s manufacturing PMI rose more comfortably above 50 in August, to 51.0…
  • …Consolidation above 50 is looking likely, with short-term leading indicators recovering in tandem.
  • But downside risks prevail over the long run; for now, we’ve yet to see firms cut prices to fight tariffs.

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Keywords for: 4 September 2025 Emerging Asia Monitor

independent macro research, Pantheon Macro, Pantheon Macroeconomics, independent research, ian shepherdson, economic intelligence