Fisher Investments Reviews: Last Week in Markets—May 25 - May 29

In the US, the second estimate of Q1 2026 GDP showed 1.6% annualized growth, revised down from the previous estimate of 2.7%. Preliminary durable goods orders rose 7.9% m/m in April, above expectations. New home sales rose 662,000 in April, lower than estimates.

In Japan, April imports and exports rose 9.8% and 14.8% y/y, respectively. The unemployment rate was 2.5% in April, below consensus forecasts. April industrial production increased 0.8% m/m, surpassing forecasts. April retail sales grew 2.1% y/y, higher than consensus estimates. In China, the May RatingDog Manufacturing Purchasing Managers’ Index (PMI)—which includes smaller businesses—was 51.8, higher than expected. Readings above 50 indicate expansion.

The Week Ahead

The US, UK, eurozone, Japan and China report Manufacturing and Services Purchasing Managers Indexes (PMIs). The US and eurozone release unemployment data. The UK and eurozone announce money supply numbers. The US reports nonfarm payroll data. The eurozone releases GDP, inflation and trade figures.

Source for all data cited is FactSet. This update constitutes the general views of Fisher Investments and should not be regarded as personalized investment advice. No assurances are made we will continue to hold these views, which may change at any time based on new information, analysis or reconsideration. In addition, no assurances are made regarding the accuracy of any forecast made herein. Global equities are represented by the MSCI World Index. The MSCI World Index measures the performance of selected stocks in 23 developed countries and is presented net of dividend withholding taxes and uses the maximum rate applicable to non-resident institutional investors who do not benefit from double taxation treaties. Past performance is no guarantee of future results. A risk of loss is involved with investments in stock markets.