The IHS Markit South Korea Manufacturing PMI increased to 51.2 in October 2020, up from 49.8 in the previous month. The latest reading pointed to the first time expansion in the manufacturing sector since last December, amid easing of lockdown restrictions. Output grew at the fastest pace since April 2013, while new orders increased for the first time since January, as demand conditions have gradually improved. Also, purchasing activity rose at the fastest pace since March 2011. Meanwhile, the pace of job shedding was modest overall, and the softest contraction since February. On the price front, input cost inflation accelerated to the steepest in over two years, due to higher prices of raw materials. Meanwhile, output prices rose for the first time since January, as firms sought to pass higher costs on to clients. Lastly, business expectations strengthened to a nine-month high, amid new product development and hopes of recovery from the impact of COVID-19. source: Markit Economics
Manufacturing PMI in South Korea averaged 49.10 points from 2011 until 2020, reaching an all time high of 52.60 points in April of 2013 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 November of 2020.
Manufacturing PMI in South Korea is expected to be 48.70 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 50.20 in 12 months time. In the long-term, the South Korea Manufacturing PMI is projected to trend around 49.70 points in 2021 and 49.10 points in 2022, according to our econometric models.