South Korea factory growth hits 4-month high

South Korea factory activity grew at its strongest pace in four months during September. Export orders surged to their highest level in over a decade, led by semiconductors and autos.

A Hanwha Aerospace engineer works on a KAAV (Korean Amphibious Assault Vehicle) at Hanwha Aerospace factory in Changwon, South Korea, March 16, 2023. REUTERS/Kim Hong-Ji

South Korea's factory activity rose to a reading of 53.9 in September, hitting a four-month high driven by surging export demand. The PMI expanded for a tenth consecutive month above the 50 expansion threshold. The acceleration highlights renewed global demand for high-value manufactured goods.

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