Korea: Manufacturing activity stabilizes in September
The S&P Global Manufacturing Purchasing Managers’ Index (PMI) came in at 49.9 in September, up from August’s 48.9. September’s result marked the best performance since June 2022. Consequently, the index moved closer to the 50.0 no-change threshold, signaling a softer deterioration in manufacturing sector operating conditions compared to the previous month.
Output and new orders contracted less than in the prior month, while employment rose the most since May 2013, pushing up the PMI. The print—the best in over a year—suggests a stabilization in the manufacturing sector after several months of deterioration. Less positively, input and output inflation accelerated, and business sentiment fell to a three-month low.