The IHS Markit South Korea Manufacturing PMI declined to 54.6 in April 2021 from 55.3 on March, the lowest reading since January, signalling a softer but still solid improvement in the health of the manufacturing sector. Both output and new orders continued to grow, while the employment increased for the second straight month. As a result, backlogs of work increased at the fastest pace for 11 years, reflecting the upward trend in new orders. At the same time, new export orders increased for the seventh month in a row, with firms citing stronger demand in the key regions of Asia and North America. On the price front, input costs inflation accelerated, due to a rise in raw material prices. Concurrently, output prices rose at their second-fastest pace on record as firms sought to pass these higher costs on to customers. Finally, business confidence improved due to hopes that a wider economic recovery from the pandemic would boost demand for newly launched products. source: Markit Economics
Manufacturing PMI in South Korea averaged 49.35 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 May of 2021.
Manufacturing PMI in South Korea is expected to be 55.00 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Manufacturing PMI in South Korea to stand at 52.00 in 12 months time. In the long-term, the South Korea Manufacturing PMI is projected to trend around 50.00 points in 2022, according to our econometric models.