S Korea factory activity shrinks as output falls, but export orders jump, PMI shows

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S Korea factory activity shrinks as output falls, but export orders jump, PMI shows - Channel News Asia

Quick Summary:

SEOUL : South Korea's factory activity shrank for a second straight month in March as output fell on weak domestic demand even as export orders jumped at the fastest pace in 14 months, a private survey showed on Tuesday.

It was the second straight month below the 50-mark, which separates expansion from contraction, and the lowest reading in three months.

FILE PHOTO: Employees work at a bio plant factory of Hanmi Pharm in Pyeongtaek, South Korea, July 1, 2021.