The survey data will give key signals on how inflation is affecting margins, and whether companies are taking the hit or passing costs on to consumers. Gauges of order and new business momentum will indicate how demand is faring as uncertainty over the Middle East conflict continues.

Flash PMIs for May showed that manufacturers across Asia-Pacific are feeling the strain of supply-chain disruptions, though the severity of the impact is unfolding at different speeds.

In the next batch of surveys, economists will look for evidence of worsening price trends that have already prompted some businesses to pare back hiring, and continued divergence between tech-heavy economies that are being shielded by AI-related demand and those who don't have the same buffer to cushion against the fuel crisis.

India

The Reserve Bank of India will deliver its monetary policy decision on Friday, hours before its GDP growth numbers are released for the January-March period.