The IHS Markit South Korea Manufacturing PMI increased to 55.3 in February 2021, the highest since April 2010, signaling a strong improvement in the health of the manufacturing. Both output and new orders grew the most for almost 11 years, while the employment level was stable, recovering from a modest fall in January, as firms sought to pass higher capacity to fulfil increasing demand. As a result, backlogs of work increased at a modest rate, and at the fastest pace since January 2020. On the price front, input costs went up the most in a decade, boosted by sharp rises in the cost of raw materials. Concurrently, output prices rose at the fastest pace since the data began in April 2004. Finally, business confidence strengthened to the highest level since February 2013. source: Markit Economics
Manufacturing PMI in South Korea averaged 49.25 points from 2011 until 2021, reaching an all time high of 55.30 points in February of 2021 and a record low of 41.30 points in May of 2020. This page provides the latest reported value for - South Korea Manufacturing PMI - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. South Korea Manufacturing PMI - data, historical chart, forecasts and calendar of releases - was last updated on March of 2021.
Manufacturing PMI in South Korea is expected to be 52.00 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Manufacturing PMI in South Korea to stand at 51.00 in 12 months time. In the long-term, the South Korea Manufacturing PMI is projected to trend around 50.00 points in 2022, according to our econometric models.