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.

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South Korea Manufacturing PMI

Actual Previous Highest Lowest Dates Unit Frequency
51.20 49.80 52.60 41.30 2011 - 2020 points Monthly


News Stream
S. Korea Manufacturing Sector Activity Returns to Growth
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.
2020-11-02
South Korea Factory Activity Shrinks the Least in 8 Months
The IHS Markit South Korea Manufacturing PMI increased to 49.8 in September 2020, up from 48.5 in the previous month. The latest reading pointed to the ninth straight month of contraction in the manufacturing sector, but the weakest since January, amid easing of lockdown restrictions following the worst of the coronavirus outbreak. Output expanded for the first time in eight months, while new orders fell the least since January despite ongoing weakness in export sales. Meanwhile, the pace of job shedding accelerated. On the price front, output charges fell further amid growing competitive pressures despite an increase in cost burdens. Lastly, business expectations remained optimistic among goods producers, as firms continued to foresee a rise in output in the next 12 months.
2020-10-05
South Korea Manufacturing Shrinks the Least in 6 Months
The IHS Markit South Korea Manufacturing PMI increased to 48.5 in August 2020 from 46.9 in the previous month. The latest reading pointed to the eighth straight month of contraction in the manufacturing sector, but the weakest since February, amid a reopening of international supply chains and gradual economic recovery across Europe and the US. Output and new orders fell the least for six months despite ongoing weakness in export sales, and the pace of job shedding also eased. On the prices front, input cost inflation picked up to six-month high due to rising oil prices and a general increase in raw material costs. Meantime, selling charges were reduced, as intense competition for new work resulted in another round of prices discounting among manufacturing firms. Lastly, business expectations turned positive for the first time since February, due to hopes of a rebound in domestic and overseas demand for manufactured goods.
2020-09-01
South Korea Manufacturing Shrinks at Softer Rate
The IHS Markit South Korea Manufacturing PMI increased to 46.9 in July 2020 from 43.4 in the previous month. The latest reading pointed to the seventh straight month of contraction in the manufacturing sector, but at the slowest rate since February, amid a gradual reopening of factory production among key clients. New orders fell at much slower rates, despite ongoing weakness in export sales, and the pace of job shedding also eased. On the prices front, input prices increased slightly, reversing the downward trend seen during the prior month. As a result, selling charges were reduced for a sixth straight month. Lastly, business expectations were much less downbeat than the low point seen in April.
2020-08-03

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.