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Financial News: South Korea Manufacturing PMI Sinks Further In May

South Korea Manufacturing PMI Sinks Further In May - IHS Markit

05/31/2020 - 20:45:00 (RTTNews)

(RTTNews) - The manufacturing sector in South Korea continued to contract in May, and at a faster rate, the latest survey from IHS Markit revealed on Monday with a manufacturing PMI score of 41.3.

That's down from 41.6 in April, and it moves further beneath the boom-or-bust line of 50 that separates expansion from contraction.

Individually, output continued to slide at an historic rate as the global economy struggles in the grips of the Covid-19 pandemic.

Demand for South Korean goods continued to plummet on further supply chain disruptions.

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