FOREX TradingCharts.com

Financial News: S. Korea Manufacturing Activity Contracts Most Since Mid

S. Korea Manufacturing Activity Contracts Most Since Mid 2023

10/02/2024 - 03:12:00 (RTTNews)

(RTTNews) - South Korea's manufacturing activity contracted at the most pronounced pace since June 2023 amid renewed declines in output and new orders, survey data released by S&P Global showed on Wednesday.

The factory Purchasing Managers' Index fell to 48.3 in September from 51.9 in the previous month.

A score below 50.0 indicates contraction in the sector. Moreover, this was the lowest reading since June 2023.

New orders posted the strongest fall in 15 months due to weak client confidence and stagnating domestic economy. New export orders decreased for the first time in 2024 to date.

In tandem with new orders, output volumes contracted in September. The decline was moderate and the steepest seen for just under a year.

Employment decreased for the first time in five months and the fall was the most marked in one-and-a-half years.

Manufacturers reported a further monthly fall in backlogs of work as subdued order volumes allowed firms to reallocate capacity to complete existing orders.

Amid concerns about stagnating economy, expectations regarding the outlook for production were the weakest since December 2022.

Manufacturers raised their purchasing activity for the thirteenth straight month and stocks of purchases were depleted at the fastest pace since April. Further, there was lengthening in suppliers' delivery times. The extent to which lead times extended was only moderate and the least pronounced for three months.

On the price front, input price inflation eased to the lowest since August 2023. At the same time, output prices were lowered for the first time in 13 months in a bid to stimulate sales.

For comments and feedback: contact editorial@rttnews.com

Copyright(c) 2024 RTTNews.com. All Rights Reserved

Market News provided by RTTNews

RECENT INTERNATIONAL FINANCIAL NEWS


U.S. Consumer Sentiment Index Unexpectedly Decreases In October (06 hr(s), 09 min(s), 32 sec(s) ago)
(RTTNews) - A report released by the University of Michigan on Friday showed an unexpected deterio ...Full Story»

U.S. Producer Prices Unexpectedly Flat In September, Annual Growth Slows Modestly (06 hr(s), 33 min(s), 32 sec(s) ago)
(RTTNews) - With a decrease in prices for goods offsetting an increase in prices for services, the ...Full Story»

U.S. Producer Prices Unexpectedly Unchanged In September (08 hr(s), 18 min(s), 32 sec(s) ago)
(RTTNews) - With a decrease in prices for goods offsetting an increase in prices for services, the ...Full Story»

India Industrial Output Shrinks 0.1% In August (08 hr(s), 21 min(s), 32 sec(s) ago)
(RTTNews) - India's industrial production declined slightly in August, largely led by weaker m ...Full Story»

Turkey Retail Sales Growth Strongest In 5 Months (11 hr(s), 15 min(s), 32 sec(s) ago)
(RTTNews) - Turkey's retail sales increased at the quickest pace in five months in August, the ...Full Story»

Romania Inflation Eases To 4.6%, Lowest In Over 3 Years (12 hr(s), 09 min(s), 32 sec(s) ago)
(RTTNews) - Romania's consumer price inflation moderated further in September to the lowest le ...Full Story»

UK Economy Returns To Growth (12 hr(s), 30 min(s), 32 sec(s) ago)
(RTTNews) - The UK economy returned to growth in August but the pace of expansion was weaker than ...Full Story»

Swiss Consumers Less Pessimistic In September (12 hr(s), 52 min(s), 32 sec(s) ago)
(RTTNews) - Confidence among Swiss consumers remained less negative in August, survey results from ...Full Story»

Search

INTERNATIONAL FINANCIAL NEWS

U.S. Consumer Sentiment Index Unexpectedly Decreases In October

10/11/2024 - 10:46 AM (RTTNews)
(RTTNews) - A report released by the University of Michigan on Friday showed an unexpected deterio ...Full Story>>

U.S. Producer Prices Unexpectedly Flat In September, Annual Growth Slows Modestly

10/11/2024 - 10:22 AM (RTTNews)
(RTTNews) - With a decrease in prices for goods offsetting an increase in prices for services, the ...Full Story>>

U.S. Producer Prices Unexpectedly Unchanged In September

10/11/2024 - 08:37 AM (RTTNews)
(RTTNews) - With a decrease in prices for goods offsetting an increase in prices for services, the ...Full Story>>

India Industrial Output Shrinks 0.1% In August

10/11/2024 - 08:34 AM (RTTNews)
(RTTNews) - India's industrial production declined slightly in August, largely led by weaker m ...Full Story>>

Turkey Retail Sales Growth Strongest In 5 Months

10/11/2024 - 05:40 AM (RTTNews)
(RTTNews) - Turkey's retail sales increased at the quickest pace in five months in August, the ...Full Story>>

Do not sell my personal information

Copyright © 2024. All market data is provided by Barchart Solutions. Information is provided "as is" and solely for informational purposes, not for trading purposes or advice. To see all exchange delays and terms of use, please see disclaimer.