India, June 1 -- The manufacturing sector in South Korea continued to contract in May, albeit at a slower pace, the latest survey from S&P Global revealed on Monday with a manufacturing PMI score of 47.7.
That's up from 47.5 in April, although it remains beneath the boom-or-bust line of 50 that separates expansion from contraction.
There were sharper contractions in the two main components of the headline PMI - output and new orders. Both measures saw quicker reductions in May. New orders fell at the fastest pace since June 2020, and the strongest rate in almost a decade if the COVID-19 pandemic period is excluded. Meanwhile, output fell at the quickest rate in just over two-and-a-half years.
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