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Financial News: South Korea Manufacturing Sector Fades In February -

South Korea Manufacturing Sector Fades In February - S&P Global

03/03/2024 - 20:09:00 (RTTNews)

(RTTNews) - The manufacturing sector in South Korea continued to expand in February, albeit at a slower pace, the latest survey from S&P Global revealed on Monday with a manufacturing PMI score of 50.7.

That's down from 51.2 in January, although it remains above the boom-or-bust line of 50 that separates expansion from contraction.

Manufacturers signaled a second successive monthly increase in production volumes. The rate of growth eased from that seen in January and was only marginal. Higher output volumes were frequently linked to rising new orders and the mass production of new products. Order book volumes rose for the second time in as many months in February.

As was the case with production, however, the pace of expansion was only slight. Where an increase was reported, firms commented on stronger client confidence and the launch of new products. Concurrently, the rate of growth in new export orders slowed from January and was only fractional overall.

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