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Business

January 4, 2011

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South Korea Dec manufacturing at 7-month high

South Korea Dec manufacturing at 7-month high

SEOUL: South Korea’s manufacturing sector expanded at the fastest pace in seven months in December on increased export orders, a private-sector survey showed on Monday, boding well for sustained economic growth.
The HSBC/Markit purchasing managers’ index on South Korea’s manufacturing sector rose to a seasonally adjusted 53.89 in December, its highest since May, from 50.23 in November, Markit Economics said in a statement.
A reading above 50 indicates the manufacturing sector in Asia’s fourth-largest economy expanded during the month from a month before. In November, the index reversed six consecutive months of declines.
The sub-index on new export orders received by South Korean manufacturers during the final month of 2010 also rose to a seasonally adjusted 53.22 from 50.88 in November, touching its highest since June, it said.

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