South Korea May factory growth slows as output, export orders shrink - PMI

South Korea's factory activity growth slowed in May, as output and export orders contracted amid supply chain disruptions due to China's COVID-19 lockdown measures, a private-sector survey showed on Thursday.

The S&P Global purchasing managers' index (PMI) fell to 51.8 in May from 52.1 in April but remained above the 50 mark that indicates expansion in activity for the 20th consecutive month. Output shrank by the most in five months and new export orders decreased for a third month in row, though total incoming orders remained firm thanks to domestic demand.