Activity in South Korea's manufacturing sector increased at a slower rate in May, data from a survey by Markit Economics and HSBC Bank showed Friday.
The seasonally adjusted purchasing managers' index (PMI) for the manufacturing sector came in at 51 in May, which was slightly lower than the previous month's reading. A PMI reading above 50 indicates expansion in the sector, while one below suggests decline.
Output in the manufacturing sector expanded at the weakest pace in the current four-month period of expansion. New business received by manufacturing firms grew at a slower pace during the month.
Employment in the sector increased at a marginal rate in May. Output price inflation eased to the greatest extent in more than three years, while input cost inflation eased to a marginal rate.
by RTT Staff Writer
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