Korea: Manufacturing PMI ticks down in May
June 1, 2020
The IHS Markit manufacturing Purchasing Managers’ Index (PMI) ticked down to 41.3 in May from 41.6 in April, moving slightly further below the 50-threshold that separates an improvement from a deterioration in the manufacturing sector over the previous month.
May’s print was driven by the second sharpest fall in output since January 2009 easing a notch from April, due to weak demand, particularly from abroad. Employment levels fell at a survey record rate in May, while business confidence remained severely depressed. On the price front, firms slashed output prices, and input prices increased modestly.
Author: Steven Burke, Economist