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South Korea factory activity suffers longest downturn in at least 19 years

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South Korea's factory activity shrank at a steeper pace in June and extended its downturn to a record 12th consecutive month, a survey showed on Monday, underlining the challenges facing the economy as it struggles to mount solid recovery.

output

It has remained below the 50-mark that separates expansion from contraction since July 2022, the longest such streak in the survey that began in April 2004. There were some improvements on the inflation and supply chain fronts, but they were mostly due to weaker demand. Input price inflation was the softest in its rising streak that began in July 2020, while suppliers' delivery times shortened by the most since May 2013.

 

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