South Korea's factory activity rebounded in April helped by a boost in hiri...
SEOUL, May 2 - South Korea’s factory activity rebounded in April helped by a boost in hiring, snapping five months of contraction, a private manufacturing survey showed on Thursday.
The overall index inched above the 50-point level that separates growth from contraction, signaling a possible improvement in the economy, but major sub-components still remained weak, hovering below the neutral point. “Sluggish sales in semiconductor and automobile-related industries were reported by some panelists, while demand from Europe, China and Japan was also reportedly subdued,” said Joe Hayes, an economist at IHS Markit.
Though respondents surveyed forecast improvements in the domestic economy, the sentiment was relatively weak in the historical context, Hayes said.
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