The manufacturing sector in South Korea swung back up into expansion territory in May, the latest survey from S&P Global revealed on Monday with a manufacturing PMI score of 51.6.
That\'s up from 49.4 in April and it moves above the boom-or-bust line of 50 that separates expansion from contraction.
Marked accelerations in growth across the headline PMI\'s two main components - new orders and output - were principally behind May\'s rejuvenation, sub-index data showed. Having been broadly stagnant in both March and April, production expanded solidly and at the sharpest pace since July 2021.
Stronger demand was cited as a key contributor to output growth, anecdotal evidence showed. New factory orders likewise picked up noticeably in May, with total sales rising to the quickest extent since February 2022.