South Korea manufacturing PMI slows slightly in October

By On October 31, 2018

South Korea manufacturing PMI slows slightly in October

TOKYO -- South Korea’s manufacturing sector in October grew at a slightly slower pace than the previous month as new export orders declined, according to a survey.

The Nikkei South Korea Manufacturing Purchasing Managers’ Index, or PMI, fell from 51.3 in September to 51.0 in October, staying above the 50-point line separating expansion from contraction.

South Korean goods producers recorded a third successive monthly increase in sales although growth was softer than in September. New export orders declined amid reports of challenging economic conditions at key trading partners.

“The double-whammy impact of rising global raw material prices and weakness of the Korean won squeezed margins, while strong competitive pressures and concerns towards the purchasing power of clients reportedly drove price discounting,” said Joe Hayes, economist at IHS Markit, which compiles the surv ey.

(Nikkei)

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See Also

  • India manufacturing sector faces surge in October
  • Indonesia’s manufacturing PMI edges down to 50.5 in October
  • Myanmar manufacturing PMI in contraction for 4th month
  • Thailand manufacturing PMI falls in October
Source: Google News South Korea | Netizen 24 South Korea

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