The IHS Markit South Korea Manufacturing PMI dropped to 49.8 in January 2020 from 50.1 in the prior month. Output growth slipped to a fractional pace, amid reports of lower production and factory shutdowns in the automobile industry. Also, employment fell solidly and for the ninth month in a row mostly due to voluntary resignations and restructuring programmes. Additionally, new orders growth slowed, while export orders pointed to back-to-back increases for the first time in one-and-a-half years. Purchasing activity increased for the third consecutive month. Input buying was spurred on by pending new product launches, with firms reportedly preordering items ahead of production. On the price front, input price inflation rose to a seven-month boosted by higher cost of fuel and raw materials, while output charges were lifted for the second straight month. Lastly, sentiment jumped to a 22-month high, driven by positive demand forecasts, a recovery in export sales and new product launches.
Manufacturing PMI in South Korea averaged 49.35 points from 2011 until 2020, reaching an all time high of 52.60 points in April of 2013 and a record low of 45.70 points in September of 2012. 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. source: Markit Economics
Manufacturing PMI in South Korea is expected to be 48.20 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 48.70 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.