India, Aug. 31 -- The manufacturing sector in South Korea continued to contract in August, albeit at a slower rate, the latest survey from S&P Global revealed on Monday with a manufacturing PMI score of 48.3.
That's up from 48.0 in July, although it remains beneath the boom-or-bust line of 50 that separates expansion from contraction.
There was a sharp decrease in incoming business inflows, with new orders falling for the fifth month running midway through the third quarter. Firms often cited a subdued domestic economy and the impact of US tariffs as the key factors behind the fall. The latter also weighed on foreign demand, as goods producers recorded the strongest reduction in new export orders since tariffs were initially announced in ...