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Korea PMI May 2023

Korea: Manufacturing PMI remains below 50.0 threshold in May

The S&P Global Manufacturing Purchasing Managers’ Index (PMI) came in at 48.4 in May, up from April’s 48.1. 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.

Output and new orders fell at a sharper rate amid economic weakness at home and abroad. More positively, employment rebounded and rose at the sharpest rate in more than a year. In addition, input prices rose the least since September 2020, output prices fell for the first time in 32 months, and business sentiment strengthened to a 10-month high.

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