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South Korean factory activity fell in July for the first time in nearly two years


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

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This follows China’s austere results:

cnbctv18-forexlive

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