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U.S. Tariffs Weigh on South Korea’s Manufacturing Sector, PMI Contracts
U.S. Tariffs Weigh on South Korea’s Manufacturing Sector, PMI Contracts
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BTCCSquare news:
South Korea’s manufacturing activity slipped into contraction territory in October as U.S. tariffs and domestic economic sluggishness took a toll. The S&P Global Manufacturing PMI dropped to 49.4 from 50.7 in September, signaling renewed stress for Asia’s fourth-largest economy.
Output and new orders declined, while employment saw its first dip in three months. Manufacturers cited tariff-related cost pressures and weak demand as key headwinds. Rising input costs, driven by raw material inflation and currency weakness, forced firms to hike output prices for the eleventh straight month—though at a slower pace.
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