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Korea PMI June 2024

Korea: Manufacturing PMI picks up in June

The S&P Global South Korea Manufacturing Purchasing Managers’ Index (PMI) rose to 52.0 in June from 51.6 in May. As a result, the index moved further above the 50.0 no-change threshold, and signaled a faster improvement in manufacturing-sector operating conditions compared to the previous month.

Key drivers behind the latest PMI reading include the fastest rise in factory orders since February 2022. This was supported by stronger sales performances in both domestic and overseas markets, with new export orders growing at the quickest pace since January. Additionally, to meet rising demand, employment levels increased and purchasing activity expanded solidly.

June witnessed the quickest rise in input costs for eight months, driven by higher raw material prices and exchange rate fluctuations. However, output charges increased at the softest pace since March, suggesting a cautious approach to passing on costs to consumers. Finally, business confidence fell to a six-month low.

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