Factory activity quickens but output, export orders shrink

Positive outlook: Employees working at a ginseng factory in Wonju. South Korean firms remain optimistic over the coming year that supply chain pressure would ease as global economic conditions improve. — Bloomberg

SEOUL: Activity in South Korea’s factories expanded at the fastest pace in three months in December but the economy struggled to gather momentum as rising global coronavirus cases and continued supply constraint weighed on production and overseas demand.

The IHS Markit purchasing managers’ index (PMI) for the final month of the year rose to 51.9 from 50.9 in November, remaining above the 50 threshold that indicates expansion in activity for a 15th consecutive month.