The IHS Markit South Korea Manufacturing PMI declined to 51.2 in August 2021 from 53.0 in July. This marked the weakest pace of expansion in factory activity since last October, amid surging infections and raw material shortages. Output declined for the first time in a year, while new orders rose at the softest pace in ten months. Meanwhile, employment continued to increase. However, the rate of job creation was only fractional, with backlogs of work increased for the tenth month in a row, though firms highlighted that some pressure stemmed from the instability of raw material supply. On the price front, input cost inflation eased. As a result, output charged inflation softened. Finally, business sentiment improved, amid hopes on economic recovery from the pandemic would also aid improvements in global supply chains. source: Markit Economics

Manufacturing PMI in South Korea averaged 49.46 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 September of 2021.

Manufacturing PMI in South Korea is expected to be 53.00 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 2022, according to our econometric models.

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South Korea Manufacturing PMI

Actual Previous Highest Lowest Dates Unit Frequency
51.20 53.00 55.30 41.30 2011 - 2021 points Monthly


News Stream
South Korea Manufacturing PMI Falls to 10-Month Low
The IHS Markit South Korea Manufacturing PMI declined to 51.2 in August 2021 from 53.0 in July. This marked the weakest pace of expansion in factory activity since last October, amid surging infections and raw material shortages. Output declined for the first time in a year, while new orders rose at the softest pace in ten months. Meanwhile, employment continued to increase. However, the rate of job creation was only fractional, with backlogs of work increased for the tenth month in a row, though firms highlighted that some pressure stemmed from the instability of raw material supply. On the price front, input cost inflation eased. As a result, output charged inflation softened. Finally, business sentiment improved, amid hopes on economic recovery from the pandemic would also aid improvements in global supply chains.
2021-09-01
South Korea Manufacturing PMI Falls to 7-Month Low
The IHS Markit South Korea Manufacturing PMI declined to 53.0 in July 2021 from 53.9 in June, indicating the softest improvement in the health of the sector since last December. Output and new orders continued to expand at a solid pace, due to an increase in both domestic and external demand, despite manufacturers continually reporting that severe supply chain disruption was hindering demand in the sector. New export orders also increased with reports of strong demand in the US, China and Europe. Meanwhile, the rate of job creation was only modest and the softest in the current five-month sequence. On the price front, input costs inflation accelerated to the second-fastest pace on record, due to a faster rise in prices of raw material, amid acute shortages. Concurrently, output prices increased at a survey-record pace, as firms sought to pass higher costs on to clients. Finally, business confidence eased to a seven-month low.
2021-08-02
South Korea Manufacturing PMI Edges Up in June
The IHS Markit South Korea Manufacturing PMI edged up to 53.9 in June 2021 from 53.7 in May, indicating a moderate improvement in the health of the manufacturing sector and extending the current sequence of growth to nine months. Output expanded at a modest rate, while new orders grew faster, due to an increase in both domestic and external demand supported new business inflows throughout the month. Meanwhile, employment rose for the fourth straight month. In line with stronger demand, backlogs of work increased at a solid rate in the same period. On the price front, input costs inflation accelerated to the steepest on record, due to a faster rise in prices of raw material, amid acute shortages. Concurrently, output prices increased to the fastest pace since the series began in April 2004, as firms sought to pass higher costs on to customers. Finally, business confidence improved due to hopes that the economy would continue to recover from COVID-19 impacts.
2021-07-01
South Korea Manufacturing PMI Falls to 4-Month Low
The IHS Markit South Korea Manufacturing PMI declined to 53.7 in May 2021 from 54.6 in April, the lowest reading since January, signalling a softer but still solid improvement in the health of the manufacturing sector. Output expanded at the softest rate since December 2020. Meanwhile, new orders remaining firmly in expansion territory overall, despite softening for the third month running, as new export orders increased only fractionally and at the softest pace since October 2020. As a result, manufacturers were encouraged to raise staffing levels for the third consecutive month. On the price front, input costs inflation accelerated to the steepest pace since January 2008. Concurrently, output prices increased at a survey record pace as firms sought to pass higher costs on to customers. Finally, business confidence improved due to hopes that domestic and external demand would improve further as the pandemic receded.
2021-06-01

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.