Korea: Manufacturing PMI ticks down in May
The IHS Markit manufacturing Purchasing Managers’ Index (PMI) ticked down to 41.3 in May from 41.6 in April, moving slightly further below the 50-threshold that separates an improvement from a deterioration in the manufacturing sector over the previous month.
May’s print was driven by the second sharpest fall in output since January 2009 easing a notch from April, due to weak demand, particularly from abroad. Employment levels fell at a survey record rate in May, while business confidence remained severely depressed. On the price front, firms slashed output prices, and input prices increased modestly.