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Financial News: South Korea Manufacturing Sector Remains Stuck In Contract

South Korea Manufacturing Sector Remains Stuck In Contraction - IHS Markit

06/30/2020 - 21:10:00 (RTTNews)

(RTTNews) - The manufacturing sector in South Korea continued to contract in June, albeit at a slower pace, the latest survey from IHS Markit revealed on Wednesday with a manufacturing PMI score of 43.4.

That's up from 41.3 in May, although it remains beneath the boom-or-bust line of 50 that separates expansion from contraction.

Individually, weak demand and low operating rates continued to weigh on the manufacturing sector.

Firms were forced to stockpile due to underwhelming sales, while job losses continued at a near-record rate.

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