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.

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South Korea Manufacturing PMI



Related Last Previous Unit Reference
Manufacturing PMI 51.80 52.10 points May 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
51.80 52.10 55.30 41.30 2011 - 2022 points Monthly

News Stream
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
South Korea Manufacturing Growth Accelerates
The S&P Global South Korea Manufacturing PMI increased to 52.1 in April 2022 from March’s 4-month low of 51.2, marking the 19th straight month of growth. Output returned to expansion territory amid a stronger rise in new orders as domestic clients increased. Meanwhile, new export orders continued to drop, due to the impact of the Ukraine war and imposing restrictions in China. Meanwhile, purchasing activity rose at a solid pace that was the fastest for nine months. The job of creation eased to the softest in the current five-month sequence, with backlogs of work increasing at the fastest rate since January. On prices, input cost inflation accelerated to the third-fastest on record, while output prices the sharpest in the survey history. Finally, business confidence weakened to a four-month low amid concern over the long-term impact of extended Covid-19 restrictions in China and the impact of the Ukraine war.
2022-05-02
South Korea Manufacturing PMI Falls to 4-Month Low
The S&P Global South Korea Manufacturing PMI declined to a 4-month low of 51.2 in March 2022 from 53.8 in February, which was the strongest growth in 8 months, marking the 18th straight month of growth in factory activity. Output shrank for the first time in three months, while new orders broadly stagnated, as demand was affected by rising prices and supply chain disruptions. At the same time, new export orders fell at the fastest pace since July 2020, amid rising geopolitical tensions. Meanwhile, input buying continued to rise, despite the rate of growth easing slightly. Employment rose for the 4th straight month, despite at a softer rate in comparison to February. On prices, input cost inflation accelerated to a three-month high, due to a sharp rise in raw materials, while, output prices continued to rise, albeit softer rate. Finally, business sentiment weakened, though remained strong overall.
2022-04-01