South Korea's manufacturing sector contracted at a slower pace in November, data from a survey by Markit Economics and HSBC Bank showed Monday.
The seasonally adjusted purchasing managers' index for the manufacturing sector rose to a five-month high of 48.2 in November from 47.4 in October, but remained below the no-change 50 mark - which separate growth from contraction - for the sixth successive month.
New orders received by South Korean manufacturers decreased for the sixth month in a row, reflecting a difficult economic climate both at home and abroad. In line with the fall in new orders, manufacturing production declined further during the month.
Input price inflation remained muted during the month, with prices rising at the slowest rate in the past three months. In contrast, prices charged continued to fall, reflecting weak underlying demand and specific requests from clients for lower prices.
by RTT Staff Writer
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