S Korea’s manufacturing decreases in Dec

According to media reports, South Korea’s manufacturing sector continued to contract in December after November but the contraction in December was slower than it was in November. Accordingly, the country’s manufacturing PMI stood at 49.4 in December, which is the highest since July, from 48 in November. Any reading above 50 indicates expansion while any reading below 50 represents contraction.

The data showed that production and new orders had a slight fall while new export orders were up for the first time in five months. As a result, goods producers’ buying activity reached its highest level of almost two years.

Meanwhile, the pace of fall in employment was the fastest pace in two years.