South Korea factory activity picks up on strong Asia demand, PMI shows
SEOUL - South Korea's factory activity rose in November, after two straight months of declines, thanks to improving demand in Asia, a private sector survey showed on Monday.
"November PMI data signalled that the South Korean manufacturing sector saw a renewed improvement in operating conditions," said Usamah Bhatti, economist at S&P Global Market Intelligence.New orders rose for the first time in three months, with new export orders growing at the fastest pace since July. Output fell but the decline was milder than the month before.
Economic activity has been improving in China recently with Beijing rolling out stimulus measures as it braces for the second term of U.S. President-elect Donald Trump, who has vowed more tariffs against China. The rebound in export demand last month pressured production capacity, with backlogs of work rising for the first time in five months and at the fastest rate since June 2022, while stocks of raw materials and semi-finished goods jumped the most in 14 months.
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