The manufacturing sector in South Korea continued to expand in February, and at a faster pace, the latest survey from Markit Economics showed on Wednesday with a manufacturing PMI score of 53.8.
That’s up from 52.8 in January, and it moves further above the boom-or-bust line of 50 that separates expansion from contraction.
This extended the current sequence of expansion to 17 months and was the strongest improvement since last June. February data indicated a second successive rise in manufacturing output. The rate of expansion was moderate and the sharpest recorded for seven months.
Manufacturers attributed the increase to stronger new order growth in key sectors such as car production and semiconductors. At the same time, businesses recorded a sharper rise in new orders in the latest survey period. Panelists often commented that client confidence was supported by the launch of new products in both domestic and international markets.
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