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Financial News: South Korea Manufacturing PMI Climbs To 51.6 -

South Korea Manufacturing PMI Climbs To 51.6 - S&P Global

06/30/2024 - 21:23:00 (RTTNews)

(RTTNews) - The manufacturing sector in South Korea continued to expand in June, and at a faster pace, the latest survey from S&P Global revealed on Monday with a manufacturing PMI score of 52.0.

That's up from 51.6 in May, and it moves further above the boom-or-bust line of 50 that separates expansion from contraction.

June survey data pointed to a third successive monthly rise in the volume of new factory orders received by South Korean manufacturers. Furthermore, the increase was solid and the strongest since February 2022.

Stronger sales performances were registered in domestic and overseas markets, according to anecdotal evidence. Indeed, new export orders continued the growth trend seen in every month of 2024 so far. The upturn was the strongest since January, with Asian, European and North American clients reportedly providing a boost to order books.

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