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.