S. Korea factory activity expands at fastest pace in almost 11 years

New orders drove the recovery in the manufacturing-heavy economy.- Bloomberg

SEOUL (Reuters): South Korea's factory activity expanded at its fastest pace in nearly 11 years in February, a private survey showed on Tuesday (March 2), as the strongest growth in over a decade in production and new orders drove the recovery in the manufacturing-heavy economy.

The IHS Markit purchasing managers' index (PMI) jumped to 55.3 in February from 53.2 in January, marking the strongest level since April 2010 when it stood at 57.1. The 50-mark threshold separates growth from contraction.