Another less than encouraging sign for the global economy.
South Korea’s manufacturing PMI contracted to 49.8 in July
- before was 51.3
- first time under 50 since September 2020
- South Korean manufacturers reported that strong inflationary pressures and sustained supply chain disruption had hampered production and demand
- Production fell for a fourth consecutive month and at the highest rate since October 2021
- new orders fell for the first time in 22 months
- new exports fell for the fifth consecutive month
This follows China’s austere results:
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