The IHS Markit South Korea Manufacturing PMI rose to a three-month high of 51.9 in December 2021 from 50.9 in November. That said, fewer positive signs were seen upon analysis of some of the underlying components that make up the index. New orders rose the most in three months, despite the overall expansion being subdued by comparison to those seen in H1 2021. Meanwhile, output fell for the third straight month; and export sales fell for the first time since September 2020, amid rising COVID-19 cases globally, and a drop in demand from Japan. Employment rose to a 6-month high, however, despite backlogs increasing the most since August. At the same time, input lead times lengthened the most since April 2020, due to poor shipping. On prices, input cost inflation eased from November's survey record, while output prices rose sharply but the figure was little changed from that seen previously. Finally, sentiment stayed upbeat, due to hopes of global recovery and new product developments. source: Markit Economics

Manufacturing PMI in South Korea averaged 49.52 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 January of 2022.

Manufacturing PMI in South Korea is expected to be 51.60 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 51.90 50.90 points Dec/21

News Stream
South Korea Manufacturing PMI Rises to 3-Month High
The IHS Markit South Korea Manufacturing PMI rose to a three-month high of 51.9 in December 2021 from 50.9 in November. That said, fewer positive signs were seen upon analysis of some of the underlying components that make up the index. New orders rose the most in three months, despite the overall expansion being subdued by comparison to those seen in H1 2021. Meanwhile, output fell for the third straight month; and export sales fell for the first time since September 2020, amid rising COVID-19 cases globally, and a drop in demand from Japan. Employment rose to a 6-month high, however, despite backlogs increasing the most since August. At the same time, input lead times lengthened the most since April 2020, due to poor shipping. On prices, input cost inflation eased from November's survey record, while output prices rose sharply but the figure was little changed from that seen previously. Finally, sentiment stayed upbeat, due to hopes of global recovery and new product developments.
2022-01-03
South Korea Factory Growth Accelerates in November
The IHS Markit South Korea Manufacturing PMI increased to 50.9 in November 2021 from 50.2 in October, indicating of a faster, still marginal improvement in the health of the sector, amid supply chain disruption and material shortages. Output fell for the second straight month, while new order growth broadly stagnated, as demand was affected by supply chain disruption, notably in the automotive sector. Meanwhile, employment shrank at the fastest rate for ten months. At the same time, input buying continued to rise, with the rate of growth reaching a three-month high. Prices data indicated input cost inflation accelerated to the fastest pace on record, due to a sharp rise in prices of raw materials. Also, output cost inflation quickened to a four-month high. Finally, sentiment improved to the highest since August.
2021-12-01
South Korea Manufacturing PMI Falls to 13-Month Low
The IHS Markit South Korea Manufacturing PMI declined to 50.2 in October 2021 from 52.4 in September. This was the lowest reading in 13 months, as the country learned to live with COVID-19. Output fell for the 2nd straight month, with the rate of reduction being the quickest since July 2020; and employment shrank for the first time since February. Meanwhile, new orders rose the least in the current 13-month sequence of expansion, and foreign demand eased to the weakest since the current sequence began last October. At the same time, buying levels grew for the 15th month running, on efforts to protect against ongoing delays and shortages. Prices data indicated input cost inflation accelerated, due to a sharp rise in prices of raw materials. Also, output cost inflation quickened to a three-month high. Finally, sentiment eased to a 13-month low, amid uncertainty regarding how long supply chain pressures would persist.
2021-11-01

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.