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.


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South Korea Manufacturing PMI

Actual Previous Highest Lowest Dates Unit Frequency
49.80 50.10 52.60 45.70 2011 - 2020 points Monthly


News Stream
South Korea Manufacturing Activity Shrinks in January
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.
2020-02-03
South Korea Factory Activity Rebounds in December
The IHS Markit South Korea Manufacturing PMI increased to an eight-month high of 50.1 in December 2019 from 49.4 in the prior month and above market consensus of 49.7. The latest reading pointed to a fractional improvement in economic conditions in the sector, as both output and new orders moved into expansion territory for first time since October 2018, boosted by the strongest increase in exports since June 2018. At the same time, purchasing activity rose at the strongest rate for almost two years, while employment declined to the joint-quickest extent since May 2018. On the price front, input cost inflation accelerated for the third month in a row amid reports of unfavourable exchange rates and increased prices for metals, food and gas; while output charges were up for first time in over a year. Lastly, business sentiment improved supported by upcoming new product launches and a pick up in global manufacturing conditions.
2020-01-02
South Korea Factory Activity at 7-Month High
The IHS Markit South Korea Manufacturing PMI increased to a seven-month high of 49.4 in November 2019 from 48.4 in the prior month and beating market consensus of 48.9. Output shrank at the softest pace since April and new orders fell at a relatively weaker rate compared to the average seen across the first three quarters of the year, as new product launches helped to partially offset the overall deterioration in demand. In addition, the job shedding rate was the softest seen across the current sequence of contraction. Meantime, export orders were broadly unchanged amid improved sales to China, Vietnam and the American continents, while declines were seen in Japanese, Indian and Hong Kong markets. On the price front, selling charges were discounted for a third month in a row, while operating cost went up faster amid unfavorable exchange rate variation. Lastly, sentiment fell to near neutral territory, amid negative expectations towards domestic and external economic conditions.
2019-12-02
South Korea Manufacturing Shrinks at Softer Pace
The IHS Markit South Korea Manufacturing PMI rose to 48.4 in October 2019 from 48.0 in a month earlier and slightly below market consensus of 48.5, pointing to the sixth straight month of contraction in the sector. Output fell at a softer rate, while new orders continued to decline amid weakening domestic demand. In addition, export sales shrank again following a brief stabilisation in September. Also, employment was reduced further in October, while firms cleared their inventories at a sharper pace in order to keep a lid on costs. Regarding prices, output charges were cut as firms sought to stimulate sales and boost competitiveness despite increased cost pressures. Looking ahead, business confidence strengthened to a 16-month high, amid new product launches, particularly in electronics and automobiles.
2019-11-01

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.