The manufacturing sector in South Korea continued to expand in April, albeit at a slower pace, the latest survey from Markit Economics revealed on Monday with a manufacturing PMI score of 54.6.
That’s down from 55.3 in March although it remains above the boom-or-bust line of 50 that separates expansion from contraction.
The pace of growth softened from the previous survey period but was still sharp overall amid reports of improved demand conditions, notably in the technology sector. New orders among South Korean manufacturers also rose further in April. The overall pace of expansion was broadly similar to March and remained strong overall.
Business optimism rose at South Korean goods producers, as firms continued to forecast a rise in output in the coming 12 months.