The manufacturing sector in South Korea continued to contract in July, albeit at a slower rate, the latest survey from Markit Economics showed on Monday with a six-month high manufacturing PMI score of 46.9.
That’s up from 43.4 in June, although it remains beneath the boom-or- bust line of 50 that separates expansion from contraction.
Individually, output and new orders fell at much slower rates than in June, while stocks of finished goods rose to their greatest extent since January 2009.
Pressure on margins and ongoing spare capacity resulted in another round of job cuts. However, the rate of decline in employment eased slightly in July.
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