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South Korea Manufacturing PMI Climbs To 49.4 In June - S&P Global
(RTTNews) - The manufacturing sector in South Korea continued to contract in July, albeit at a slower rate, the latest survey from S&P Global revealed on Tuesday with a manufacturing PMI score of 49.4.
That's up from 47.8 in June, although it remains beneath the boom-or-bust line of 50 that separates expansion from contraction.
Manufacturing companies registered a reduction in output that was softer than that seen in June. Panel members largely attributed the decline to muted economic conditions. Despite softening on the month, the rate of decrease remained solid. July data signaled a 13th consecutive monthly decrease in new orders.
That said, the rate of decline eased to a modest pace that was the slowest for 12 months. A number of firms mentioned that domestic demand conditions were muted, although there were pockets of orders for newly launched products, particularly from overseas.
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