The IHS Markit South Korea Manufacturing PMI rose to 53.2 in January 2021, the highest since February 2011, from 52.9 in December, reflecting the sustained recovery of factory activity following disruption caused by the COVID-19. Output grew the most since February 2011, buying levels increased at the fastest rate in nearly 11 years, and both new orders and new export orders expanded for the fourth straight months. On the other hand, employment fell, reversing a slight improvement recorded in December. That said, backlogs of work increased for the third month running, indicative of pressure on capacity. On the cost side, input prices went up the most in three years, due to sharp rises in the cost of raw materials and logistics. Concurrently, output prices rose at the quickest pace since June 2018 as firms sought to pass higher costs on to clients. Finally, confidence strengthened to the highest level since April 2014. source: Markit Economics
Manufacturing PMI in South Korea averaged 49.20 points from 2011 until 2021, reaching an all time high of 53.20 points in January 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 February of 2021.
Manufacturing PMI in South Korea is expected to be 52.00 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 51.00 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.