South Korea Manufacturing PMI Ticks Higher In June - S&P Global

(RTTNews) - The manufacturing sector in South Korea continued to contract in June, albeit at a slower pace, the latest survey from S&P Global showed on Tuesday with a manufacturing PMI score of 48.7.

That's up from 47.7, although it remains beneath the boom-or-bust line of 50 that separates expansion from contraction.

June survey data pointed to a fourth consecutive monthly fall in production volumes. The pace of decrease was marginal though, and the softest recorded in the current sequence. Where output decreased, this was often attributed to declining sales volumes, however some firms noted positive movements in the domestic market.

In some instances, firms opted to use existing inventories of finished items, resulting in a modest depletion of stock holdings. New order intakes fell further during June, extending the current period of decline to three months.