The manufacturing sector in South Korea continued to expand in July, albeit at a slower pace, the latest survey from Markit Economics showed on Monday with a manufacturing PMI score of 53.0.
That’s down from 53.9 in June, although it remains above the boom-or-bust line of 50 that separates expansion from contraction.
South Korean manufacturers signaled an expansion in new order inflows for the tenth consecutive month in July. Despite remaining solid overall, the rate of growth was the slowest since January.
Survey respondents commented that incoming business was boosted by stronger client confidence in both domestic and international markets, though demand was affected by supply chain disruption and a resurgence in COVID-19 cases. New export orders increased for the twelfth month running.