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Publish Date : 04-Sep-2012

South Korea\'s manufacturing activity shrank for the third month in a row in August but at a slower pace than in July, a private sector survey showed on Monday, as the protracted euro zone crisis weighed on global demand.

The HSBC/Markit purchasing managers\' index (PMI) on South Korea\'s manufacturing sector edged up to a seasonally adjusted 47.50 in August after falling to 47.20 in July from 49.38 in June, Markit Economics said in a statement.

It was the third month in a row that the index stood below 50 separating expansion from contraction in manufacturing activity, but snapped a four-month slide, suggesting the sector\'s slump may be at or near its bottom.

A sub-index on new export orders rose for a second consecutive month to 48.79 in August from 48.59 in July and 48.36 in June, though it also contracted for the third month in a row.

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