Manufacturing confidence on the rise as semiconductors recover

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Manufacturing confidence on the rise as semiconductors recover

Published: 26 Nov. 2023, 15:56

JIN MIN-JI
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Automated guided vehicles at a port in the southeastern city of Busan on Oct. 27. [Yonhap]

Korea's manufacturing confidence rose for the first time in four months in December, thanks to solid signs of recovery in global demand for semiconductors, a poll showed Sunday.

The professional survey index (PSI) for the manufacturing sector's business conditions came to 100 for next month up from 97 this month, according to the Korea Institute for Industrial Economics & Trade.

A PSI reading above 100 means optimists outnumber pessimists. The survey was conducted earlier this month with 156 experts in major industries.

The semiconductor industry's PSI for next month came to 163, compared to 153 this month.

South Korea's exports climbed for the first time in 13 months in October, driven by rising chip sales in the global market.

Exports rose 2.2 percent on year in the first 20 days of November, boosted by growing demand for semiconductors and vehicles, according to government data.

Yonhap