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buy apple developer account :South Koreau0027s factory activity extends growth for sixth month - PMI

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SEOUL - South Korea's factory activity expanded for a sixth straight month in March, a private sector survey showed on Thursday, supported by strong output and demand at home and abroad.

The IHS Markit purchasing managers' index (PMI) for March held steady at 55.3 compared with February, marking the joint-strongest level since April 2010. An index reading above 50 indicates an expansion in activity. The index has held above the 50-mark threshold since October.

"The latest Manufacturing PMI signalled a further improvement in the health of the sector, driven by strong, albeit softer, growth in output and new orders," said Usamah Bhatti, economist at IHS Markit.

The sub-index for output stood at 56.8, marking the seventh straight month of expansion, though lower than 57.2 a month earlier.

While total new orders grew at a slightly slower pace, those from external clients posted the sharpest increase in four months.

Respondents largely attributed the higher foreign demand to stronger confidence in key markets including China, United States and India.

To meet rising demand, firms increased employment for the first time in three months and at the quickest pace since May 2013.

Looking ahead, businesses remained strongly optimistic over the coming 12 months, as they saw the launch and mass production of new products further boosting the manufacturing sector along with strengthening demand in international markets.

"South Korean manufacturers continued to signal strong optimism as the rollout of COVID-19 vaccinations began and demand for new products accelerated," Bhatti said.

"IHS Markit currently estimates industrial production will expand 2.7% in 2021." REUTERS


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  • 2021-05-31 00:02:56

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