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. source: Markit Economics
Manufacturing PMI in South Korea averaged 49.63 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 June of 2022.
Manufacturing PMI in South Korea is expected to be 50.50 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.