S.Korea factory activity shrinks as output falls, but export orders jump, PMI shows

SEOUL, - South Korea's factory activity shrank for a second straight month in March as output fell on weak domestic demand even as export orders jumped at the fastest pace in 14 months, a private survey showed on Tuesday. S.Korea factory activity shrinks as output falls, but export orders jump, PMI shows The Purchasing Managers Index for manufacturers in Asia's fourth-largest economy, released by S&P Global, fell to 49.1 in March, from 49.9 in February. New export orders, however, rose for the fifth straight month and at the sharpest rate since January 2024, on demand improvements in key markets such as the United States and the Asia-Pacific region. "Anecdotal evidence indicated that domestic economic weakness was offset by the strongest rise in new export sales since January 2024," said Usamah Bhatti, economist at S&P Global Market Intelligence.