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.