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Korea PMI June 2023

Korea: Manufacturing conditions deteriorate at steeper pace in June

The S&P Global Manufacturing Purchasing Managers’ Index (PMI) fell to 47.8 in June from May’s 48.4. As a result, the index fell further below the 50.0 no-change threshold, signaling a sharper deterioration in manufacturing sector operating conditions compared to the previous month.

Output and new orders fell at a faster pace amid economic weakness at home and abroad, pushing down the PMI. Adding to the gloom, business sentiment weakened. More positively, employment rose for the second consecutive month. In addition, input inflation fell close to zero and output inflation was negative for the second month running.

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