South Korean manufacturing output expanded in May, S&P Global said on Monday.
The latest seasonally adjusted S&P Global South Korea Manufacturing PMI rose to 54.8 from 53.6 in April.
S&P Global said the reading was the highest in five years, driven by the rise in production and new order volumes.
The demand for manufactured products was fueled by the need to build and maintain inventories due to the disruption caused by the war in the Middle East, according to S&P.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.