The manufacturing sector in South Korea was stagnant in November, the latest survey from S&P Global revealed on Friday with a manufacturing PMI score of 50.0.
That's up from 49.8 in October and it moves right on the boom-or-bust line of 50 that separates expansion from contraction.
Manufacturing companies registered a broad stabilization in output levels, with the latest reading of the respective seasonally adjusted index the highest since April 2022. Where a decline was reported, panel members largely attributed this to ongoing economic weakness.
November data signaled a seventeenth consecutive monthly decrease in new orders. That said, the rate of decline was only modest and the slowest since July 2022. A number of firms mentioned that demand conditions remained muted amid subdued client confidence and weakness in both the domestic and global economies.
