The IHS Markit South Korea Manufacturing PMI increased to 46.9 in July 2020 from 43.4 in the previous month. The latest reading pointed to the seventh straight month of contraction in the manufacturing sector, but at the slowest rate since February, amid a gradual reopening of factory production among key clients. New orders fell at much slower rates, despite ongoing weakness in export sales, and the pace of job shedding also eased. On the prices front, input prices increased slightly, reversing the downward trend seen during the prior month. As a result, selling charges were reduced for a sixth straight month. Lastly, business expectations were much less downbeat than the low point seen in April.
Manufacturing PMI in South Korea averaged 49.08 points from 2011 until 2020, reaching an all time high of 52.60 points in April of 2013 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 2020. source: Markit Economics
Manufacturing PMI in South Korea is expected to be 48.10 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 50.20 in 12 months time. In the long-term, the South Korea Manufacturing PMI is projected to trend around 49.70 points in 2021 and 49.10 points in 2022, according to our econometric models.