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.

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South Korea Manufacturing PMI

Actual Previous Highest Lowest Dates Unit Frequency
55.30 53.20 55.30 41.30 2011 - 2021 points Monthly


News Stream
South Korea Manufacturing Expands the Most Since 2010
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.
2021-03-02
South Korea Factory Activity Grows the Most in 10 Years
The IHS Markit South Korea Manufacturing PMI rose to 53.2 in January 2021, the highest since February 2011, from 52.9 in December, reflecting the sustained recovery of factory activity following disruption caused by the COVID-19. Output grew the most since February 2011, buying levels increased at the fastest rate in nearly 11 years, and both new orders and new export orders expanded for the fourth straight months. On the other hand, employment fell, reversing a slight improvement recorded in December. That said, backlogs of work increased for the third month running, indicative of pressure on capacity. On the cost side, input prices went up the most in three years, due to sharp rises in the cost of raw materials and logistics. Concurrently, output prices rose at the quickest pace since June 2018 as firms sought to pass higher costs on to clients. Finally, confidence strengthened to the highest level since April 2014.
2021-02-01
South Korea Manufacturing PMI Nears Decade High
The IHS Markit South Korea Manufacturing PMI stood at 52.9 in December 2020, unchanged from the previous month's ten-year high. The latest reading signaled an improvement in the health of the manufacturing sector for the third consecutive month following disruption caused by the coronavirus pandemic. Both output and new orders increased at softer rates, while employment levels rose for the first time since April 2019. On the price front, input cost inflation accelerated to the fastest since March 2018, due to higher raw material prices. As a result, output charges rose at their fastest pace in 29 months. Lastly, business expectations remained positive, as firms continued to forecast a rise in output in the coming year.
2021-01-04
South Korea Manufacturing PMI Highest Since 2011
The IHS Markit South Korea Manufacturing PMI increased to 52.9 in November 2020, up from 51.2 in the previous month. The latest reading pointed to the second straight month of expansion in the manufacturing sector and the highest reading since February 2011, as the economy recovers from the downturn caused by the COVID-19 pandemic. Output grew at the fastest pace since April 2013, while new orders increased at fastest rate for ten-and-a-half years. Meanwhile, employment levels stabilised, ending a year-and-a-half sequence of job losses among manufacturers. On the price front, input cost inflation was unchanged, while output prices continued to increase, albeit marginal. Lastly, business expectations strengthened to the highest since February 2015.
2020-12-01

South Korea Manufacturing PMI
The IHS Markit South Korea Manufacturing Purchasing Managers’ Index measures the performance of the manufacturing sector and is derived from a survey of 400 manufacturing companies. The Index is based on five individual indexes with the following weights: New Orders (30 percent), Output (25 percent), Employment (20 percent), Suppliers’ Delivery Times (15 percent) and Stock of Items Purchased (10 percent), with the Delivery Times index inverted so that it moves in a comparable direction. A reading above 50 indicates an expansion of the manufacturing sector compared to the previous month; below 50 represents a contraction; while 50 indicates no change.