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Financial News: South Korea Manufacturing PMI Slips Into The Red

South Korea Manufacturing PMI Slips Into The Red

02/02/2020 - 20:25:00 (RTTNews)

(RTTNews) - The manufacturing sector in South Korea fell into contraction territory in January, the latest survey from IHS Markit revealed on Monday with a manufacturing PMI score of 49.8.

That's down from 50.1 in December, and it moves beneath the boom-or-bust line of 50 that separates expansion from contraction.

Individually, the export trend remained broadly positive last month, offsetting weak domestic sales - while output volumes held steady despite further job losses.

Business confidence hit a 22-month high ahead of new product launches in the coming months.

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