South Korea Manufacturing Sector Faces Contraction Amid Weak Domestic Demand in March

Monday, 1 April 2024, 00:36

South Korea's manufacturing activity declined in March due to a slowdown in domestic demand despite strong overseas sales. Export demand, however, saw growth for the third consecutive month, albeit at a faster pace.
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South Korea Manufacturing Sector Faces Contraction Amid Weak Domestic Demand in March

South Korea Factory Activity Overview

South Korea's manufacturing sector experienced a contraction in March, primarily due to weakened domestic demand. Despite this, the sector showcased strong overseas sales, highlighting a positive trend in export demand.

Key Highlights:

  • Manufacturing activity in South Korea declined in March
  • Weak domestic demand was a major contributing factor
  • Export demand showed growth for the third consecutive month

This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.


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