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Korea PMI December 2023

Korea: Manufacturing activity deteriorates for 17th time in 18 months in December

The S&P Global Manufacturing Purchasing Managers’ Index (PMI) fell to 49.9 in December from November’s 50.0. As a result, the index fell below the 50.0 no-change threshold, signaling a renewed deterioration in business conditions in the manufacturing sector.

Output was broadly unchanged from the prior month, while new orders fell for the eighteenth straight month. More positively, employment continued to rise. Meanwhile, input inflation fell and output inflation was marginal. Finally, business sentiment was the joint-weakest in 2023.

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