South Korea's factory activity shrank for a sixth consecutive month in December, a business survey showed on Monday, as the global economic downturn and a local truckers' strike led to the worst slump in demand in 2-1/2 years.
The S&P Global purchasing managers' index for South Korea manufacturers fell to a seasonally-adjusted 48.2 last month from 49.0 in November.
Sub-indexes showed output contracted for an eighth straight month, new orders declined for a sixth month, and new export orders shrank for a 10th month. Meanwhile, suppliers' delivery times were their worst since June, as South Korean truckers went on a strike for the second time in 2022. "Low levels of client demand, on both a domestic and international scale, were central to the latest deterioration."
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