South Korea's July PMI slides to 47.2 from 49.4 previously, led by big drops in Production and...


South Korea's July PMI slides to 47.2 from 49.4 previously, led by big drops in Production and New Orders (both the fastest contraction since December). Backlogs fell to their lowest level since the survey's 2004 inception. "Further deterioration in Korea's manufacturing sector calls for more support from policymakers," says HSBC's Ronald Man, expecting another imminent rate cut from the BOK.
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