The S&P Global South Korea Manufacturing PMI declined to 49.8 in July 2022 from 51.3 in June. This was the first drop in factory activity since September 2020, on material shortages and rising costs. Output shrank for the third month in a row and at the steepest rate since last October, new orders fell for the first time since September 2020, and export sales dropped the most in 3 months amid concerns about the economic impact of the Ukraine war and China's COVID-19 policy. Also, the rate of job shedding was the strongest in 22 months, despite a softer rise in backlog accumulation. Meantime, delivery times lengthened at the second-softest rate in near a year. On prices, input cost extended the current sequence of inflation to 25 months, though costs rose at the softest pace in four months; while output prices increased markedly. Lastly, confidence was at its lowest since October 2021, on worries over the impact of inflationary pressures. source: Markit Economics

Manufacturing PMI in South Korea averaged 49.64 points from 2011 until 2022, 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 August of 2022.

Manufacturing PMI in South Korea is expected to be 51.00 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the South Korea Manufacturing PMI is projected to trend around 50.00 points in 2023, according to our econometric models.

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South Korea Manufacturing PMI



Related Last Previous Unit Reference
Manufacturing PMI 49.80 51.30 points Jul 2022

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.
Actual Previous Highest Lowest Dates Unit Frequency
49.80 51.30 55.30 41.30 2011 - 2022 points Monthly

News Stream
South Korea Manufacturing Shrinks for 1st Time in 22 Months
The S&P Global South Korea Manufacturing PMI declined to 49.8 in July 2022 from 51.3 in June. This was the first drop in factory activity since September 2020, on material shortages and rising costs. Output shrank for the third month in a row and at the steepest rate since last October, new orders fell for the first time since September 2020, and export sales dropped the most in 3 months amid concerns about the economic impact of the Ukraine war and China's COVID-19 policy. Also, the rate of job shedding was the strongest in 22 months, despite a softer rise in backlog accumulation. Meantime, delivery times lengthened at the second-softest rate in near a year. On prices, input cost extended the current sequence of inflation to 25 months, though costs rose at the softest pace in four months; while output prices increased markedly. Lastly, confidence was at its lowest since October 2021, on worries over the impact of inflationary pressures.
2022-08-01
South Korea Manufacturing Growth at 3-Month Low
The S&P Global South Korea Manufacturing PMI declined to a three-month low of 51.3 in June 2022 from 51.8 in April, but marked the 21st straight month of growth. Output contracted at the fastest pace since last November, amid softer rise in new orders, while foreign demand shrank for the fourth consecutive, although the rate of decline eased to the softest in this sequence. Meanwhile, employment fell for the second straight month, with backlogs of work increasing at a moderate rate that was nonetheless the softest since March. On prices, input cost inflation accelerated to the fourth-fastest in the survey history, due to sharp rises in raw material prices. Meanwhile, output cost inflation eased for the first time in three months to the slowest since January. Lastly, sentiment weakened to an eight-month low, amid ongoing supply chain disruptions and inflationary pressures.
2022-07-01
South Korea Manufacturing Growth Eases in May
The S&P Global South Korea Manufacturing PMI declined to 51.8 in May 2022 from 52.1 in April, but marked the 20th straight month of growth. Output returned to contraction territory, amid renewed COVID-19 curbs in China and the ongoing Ukraine war; and new export orders shrank for the third month running, led by weaker demand in China. Also, employment fell for the first time in six months and was at the steepest pace since January 2021, with backlogs of work rising at the sharpest rate in 13 months. Meanwhile, new orders rose to the fastest in three months, linked to improved confidence in domestic markets. Delivery times extended the most since last December, with disruptions exacerbated by curbs in China. On prices, input cost inflation eased for the first time in four months, while output price inflation hit a record high record. Lastly, sentiment remained strongly positive, on hopes of an end to the pandemic and the Ukraine war.
2022-06-02