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S.Korea, Australia manufacturing shrinks

11-02-2011 15:59 BJT

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In Asia’s fourth largest economy - that is South Korea - manufacturing sector activity shrank for a third straight month, as new export orders fell.

It could have been worse though, the HSBC Markit PMI edged up to a seasonally adjusted 48 in October, from an 11-month low in September.

I want to point out that falls under the 50 line, indicating contraction.

Down under, manufacturing activity in Australia also continued to decline also at a slower pace in October.

The Australian Industry Group PriceWaterhouseCoopers PMI stood at 47.4, rising 5 points from September’s reading.

But what’s worse, analysts say, they don’t see the manufacturing sector picking up anytime soon, as new orders remain soft.

 

Editor:Zhang Rui |Source: CNTV.CN

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