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Korea PMI July 2023

Korea: Manufacturing activity falls the least in a year in July

The S&P Global Manufacturing Purchasing Managers’ Index (PMI) came in at 49.4 in July, up from June’s 47.8. July’s result marked the strongest reading since July 2022. Consequently, the index remained below the 50.0 no-change threshold, signaling a continued deterioration in manufacturing sector operating conditions from the previous month.

Output and new orders fell at a weaker pace, with demand from abroad rising for the first time since February 2022. In addition, employment rose for the third consecutive month. Meanwhile, input and output prices fell, with the decline in the former being the sharpest in six years. In addition, business sentiment rose to a year high.

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