South Korea manufacturing PMI up to 49.4 in April
TOKYO -- The Nikkei South Korea Manufacturing Purchasing Managers' Index, or PMI, rose to 49.4 in April from 48.4 in March.
A reading above 50 indicates economic expansion, while one below 50 points toward contraction. April's data marked the ninth consecutive month of contraction.
"April saw another underwhelming performance from the South Korean manufacturing sector, with output, new orders and employment all showing falls since the previous month," said Paul Smith, senior economist at IHS Markit, which compiles the survey.
Data from the survey and comments showed that "new export orders are falling due to reduced trade flows with China, and firms are indicating concerns that this will continue over the coming months," the economist explained.
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