-- South Korea's manufacturing sector continued to expand in April, with the seasonally adjusted headline S&P Global South Korea Manufacturing Purchasing Managers' Index increasing to 53.6 last month from 52.6 in March, S&P Global said in a Monday report.
A reading above 50 indicates an overall increase compared with the previous month, and below 50 indicates a decline.
April's expansion in the country's manufacturing sector was the strongest since February 2022.
The ongoing tensions in the Middle East took a toll on manufacturing, with higher cost burdens being prevalent from the beginning of the second quarter. A surge in oil and fuel prices translated to higher raw material prices, which increased costs for end customers. Delivery delays and supply shortages were rampant during the month.
In addition, average lead times for input deliveries also increased to the greatest extent since June 2022, due to higher raw material prices.
Looking ahead, optimism was at its lowest in five months, amid the uncertainty over the length of the Middle East conflict and its effect on the supply chain and prices.