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Financial News: South Korea Manufacturing Sector Accelerates In December -

South Korea Manufacturing Sector Accelerates In December - Markit

01/02/2022 - 19:39:00 (RTTNews)

(RTTNews) - The manufacturing sector in South Korea continued to expand in December, and at a faster pace, the latest survey from Markit Economics revealed on Monday with a manufacturing PMI score of 51.9.

That's up from 50.9 and it moved further above the boom-or-bust line of 50 that separates expansion from contraction.

New orders - which has the largest weighting in the PMI - increased during December at the fastest rate in three months, reportedly reflecting rising sales at domestic clients. However, the overall expansion was subdued by comparison to those seen in the first half of 2021.

Relatively weak new order growth came amid the first month-on-month drop in new export orders since September 2020. Rising COVID-19 infections globally, poor shipping container availability and reduced demand from clients in Japan were reportedly behind the decrease.

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