Korea: Manufacturing PMI picks up in April
The S&P Global Manufacturing Purchasing Managers’ Index (PMI) rose to 48.1 in April from March’s 47.6. As such, the index remained below the 50.0 no-change threshold, signaling a continued deterioration in manufacturing sector operating conditions from the previous month.
The manufacturing PMI improved marginally and remained in contractionary territory as output fell at the joint-weakest rate in a year and new orders fell at a less steep pace. A weak global economy continues to weigh on the sector. Adding to the downbeat picture, firms cut their headcounts and firm sentiment fell to a four-month low. More positively, input inflation was the lowest since November 2020 and output inflation was only marginal.