The S&P Global South Korea Manufacturing PMI rose to 52 in June 2024 from 51.6 in May, posting above the 50 no-change mark and improving for the second straight month, while hitting the highest level since April 2022.

Solid expansions were seen in both new orders and output, with factory sales rising at the fastest rate since February 2022.

Export demand also strengthened, while employment levels rose as companies sought to boost production capacity.

That said, there was a further marked softening of business confidence, which dipped to its lowest level in the year-to-date.

Cost pressures also intensified as exchange rate weakness and rising raw material prices pushed up operating expenses.

Meanwhile, Joe Hayes, Principal Economist at S&P Global Market Intelligence, said that the latest figure provides further evidence that global industrial activity and trade are picking up.

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