South Korea factory activity shrinks sharply as demand weakens

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00:00In September, South Korea's factory activity declined for the first time in 15 months due

00:06to weak overseas demand, with purchasing managers' index dropping to 48.3 from 51.9.

00:14Production in new orders declined significantly, marking the first drop in export orders this

00:19year, particularly from China, Japan, India and the United States.

00:24The economy unexpectedly shrank in the second quarter, and concerns about future growth

00:29increased as backlogs of work fell and employment dropped sharply.

00:33However, input price inflation eased and output prices fell for the first time in 13 months.

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