South Korea factory activity expands for first time in 19 months - PMI

TheStar Thu, Feb 01, 2024 08:40am - 3 months View Original


An employee wearing a protective mask works on the production line manufacturing credit cards at the Hyundai Card Corp. card factory in Seoul, South Korea. Photographer: SeongJoon Cho/Bloomberg

SEOUL: South Korea's factory activity expanded in January for the first time in 19 months as output and orders returned to growth on improving demand in key export markets, a private-sector survey showed on Thursday.

The purchasing managers index (PMI) for South Korean manufacturers, compiled by S&P Global, stood at 51.2 in January on a seasonally adjusted basis, up from 49.9 in December.

It was the first time since June 2022 the index rose above the 50-mark, which separates expansion from contraction.

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