Financial News: South Korea Manufacturing Sector Climbs Into Expansion Ter

South Korea Manufacturing Sector Climbs Into Expansion Territory - S&P Global

12/01/2024 - 20:35:00 (RTTNews)

(RTTNews) - The manufacturing sector in South Korea moved to expansion in November, the latest survey from S&P Global revealed on Monday with a manufacturing PMI score of 50.6.

That's up from 48.3 in October, and it moves above the boom-or-bust line of 50 that separates expansion from contraction.

The main driver behind the positive headline figure was a return to growth of new orders in November. New business increased for the first time since August. Where an increase in sales was reported, manufacturers noted orders for newly launched products, as well as other new contract wins.

Firms were also positive regarding foreign demand for manufactured goods, where the renewed increase was the strongest since July. According to anecdotal evidence, international sales were notably positive across the Asia-Pacific region.

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