SEOUL, Sept 1 Reuters South Korea39;s factory activity weakened at a faster pace in August, extending its longestever slump by another month as export orders fell again, a private business survey showed on Friday.

The purchasing managers index PMI for South Korean manufacturers, compiled by SP Global, stood at 48.9 in August on a seasonally adjusted basis, down from a 12month high of 49.4 in July.

The sub50 reading meant activity contracted for the 14th straight month, the longest downturn in the survey39;s history stretching back to April 2004.

Subindexes showed new export orders swung back to contraction, after their first increase in 17 months in July, keeping overall orders and output in contractionary territory for 14 months and 16 months, respectively.

In August, worries intensified over slowing economic growth in China, which had already been dragging down South Korea39;s exports amid weak demand.

August PMI data signalled that South Korea39;s manufacturing sector saw a sustained deterioration in operating conditions, said Trevor Balchin, Economics Director at SP Global Market Intelligence.

The current downturns in output and new work are the longest in the survey history, although much less severe than those registered during the pandemic and global financial crisis.

On the inflation front, input prices rose again, after falling in July for the first time in more than three years. Still, output prices extended decline to a fourth straight month due to…