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Korea PMI May 2020

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.

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