South Korea's manufacturing PMI contracted for the fifth consecutive month, but the decline narrowed.

Reuters: South Korea's June Manufacturing PMI continues to contract for the fifth consecutive month

Reuters reported on June 30 that South Korea's manufacturing activity continued to shrink for the fifth consecutive month, but the rate of contraction slowed down. The South Korea June Manufacturing Purchasing Managers' Index (PMI), released by S&P Global, rose slightly from 47.7 in May to 48.7, still below the 50 threshold for expansion. Usamah Bhatti, an economist with S&P Global Market Intelligence, stated that although manufacturing output and sales continued to decline, the rate of decline narrowed compared to May, indicating some signs of improvement in the domestic market. The survey found that businesses' confidence in output over the next year reached its highest level since May 2024, but due to weak demand from major markets, the rate of decline in new export orders slightly accelerated. The new South Korean government has recently pledged to introduce short-term economic support measures to address current challenges.

Original article: https://www.toutiao.com/article/1836406896966668/

Statement: This article represents the views of the author and is not necessarily the position of the platform.