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South Korea Manufacturing Sector Contracts Faster In March

The manufacturing sector in South Korea continued to contract in March, and at a faster rate, the latest survey from IHS Markit revealed on Wednesday with a manufacturing PMI score of 44.2.

That's down from 48.7 in February and it slips further beneath the boom-or-bust line of 50 that separates expansion from contraction.

Individually, production fell sharply due to the Covid-19 outbreak. Demand plummeted as the global pandemic cut into the order books.

Supply chain disruptions intensified and employment tumbled.

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