South Korean PMI Rises Above 50 - Business Insider

Good news for the global economy.

South Korea -- whose heavy reliance on global trade -- is seen by some economists as the "canary in the coalmine" just came in with a strong PMI report.

From the report:

The HSBC South Korea Purchasing Managers? IndexTM (PMI?) ? a composite indicator designed to provide a single-figure snapshot of the health of the manufacturing sector ? registered 50.1 in December. That was an improvement on November?s 48.2 and the highest reading since May. However, being barely above 50.0, the PMI suggested that operating conditions were little changed since the previous month. Following six months of continuous decline new order volumes increased in the latest survey period. However, the rate of growth was only slight, with respondents commenting that underlying demand conditions remained fragile and economic conditions weak. This was particularly the case in export markets. New export orders fell during December for the seventh successive survey period.

Source: http://www.businessinsider.com/south-korean-pmi-rises-above-50-2013-1

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