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Financial News: South Korea Manufacturing Sector Picks Up Steam In

South Korea Manufacturing Sector Picks Up Steam In September - Markit

09/30/2021 - 21:25:00 (RTTNews)

(RTTNews) - The manufacturing sector in South Korea continued to expand in September, and at a faster rate, the latest survey from Markit Economics showed on Friday with a manufacturing PMI score of 52.4.

That's up from 51.2 in August and it moves further above the boom-or-bust line of 50 that separates expansion from contraction.

South Korean manufacturers signaled an expansion in new business for the twelfth consecutive month in September. The rate of growth quickened slightly from August and was moderate overall.

Panel members often commented that new business inflows were boosted by increased demand for newly launched products. At the same time, the improvement in foreign demand for South Korean manufactured goods picked up, though new export orders still increased at only a marginal pace.

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