The manufacturing sector in South Korea continued to contract in October, and at a faster pace, the latest survey from S&P Global revealed on Wednesday with a manufacturing PMI score of 49.8.
That's down from 49.9, and it moves further beneath the boom-or-bust line of 50 that separates expansion from contraction.
Manufacturers signaled an eighteenth consecutive monthly decrease in production volumes. The rate of decline was only modest and the softest seen since April. Lower output volumes were frequently linked to sustained weakness in economic conditions.
Order book volumes declined further in October, extending the current sequence of reduction to 16 months. The rate of decline was modest and the softest recorded for three months.
