South Korea Manufacturing Sector Ebbs In August - S&P Global

(RTTNews) - The manufacturing sector in South Korea continued to expand in August, albeit at a slower rate, the latest survey from S&P Global revealed on Tuesday with a manufacturing PMI score of 52.3.

That's down from 53.1 in July, although it remains above the boom-or-bust line of 50 that separates expansion from contraction.

Manufacturers continued to report a healthy inflow of new orders, with an upturn recorded for the ninth month running in August. Foreign demand proved particularly buoyant, with manufacturers reporting increased orders from major trading partners across Asia, Europe and North America. Notably, export sales rose at the fastest pace since November 2020. Production volumes rose for an eighth straight month, though the pace of expansion eased slightly as capacity constraints continued to bite.

Employment trends remained positive, with workforce numbers rising for the fifth time in six months. However, capacity pressures intensified as material supply shortages reportedly hampered order completions.