New data finds that South Korea’s manufacturing sector, though it remains sluggish, saw signs of a rebound last month since hitting rock bottom in May.

According to market research firm, IHS Markit, on Monday, South Korea’s purchasing managers index(PMI) for manufacturers climbed three-and-a-half points to 46-point-nine in July. It marks growth for the second consecutive month since the figure hit its lowest at 41-point-three in May.  

The PMI is an indicator of the economic health of the manufacturing sector. A reading above 50 suggests improvement, while a reading below 50 suggests deterioration. 

IHS Markit said though South Korea’s PMI remained below 50, the latest figure indicates that the sector is overall rebounding.