South Korea Manufacturing Activity Contracts in March on Weak Domestic Demand

South Korea's manufacturing PMI fell to 49.8 in March, indicating a contraction in activity as domestic demand weakened
Output and new orders indexes declined due to weak domestic economy and demand
Export demand rose for the 3rd straight month, especially to Southeast Asia, North America, and Japan
Input purchases and finished goods inventories fell sharply as firms sought to reduce costs
Manufacturers turned more optimistic for the coming year on hopes of sustained demand growth in semiconductors and autos