The IHS Markit South Korea Manufacturing PMI increased to 43.4 in June 2020 from 41.3 in the previous month. The latest reading pointed to the sixth straight month of contraction in manufacturing sector amid the coronavirus crisis. New orders and output continued to fall, as demand remained weak. Overseas demand also remained in negative territory, despite the decline easing to the weakest since March. At the same time, employment dropped for a fourteenth successive month at a near survey-record pace in response to lower operating rates. On the prices front, input prices fell due to lower raw material prices. As a result, selling charges were reduced for a fifth straight month. Lastly, business sentiment remained pessimistic, due to uncertainty over COVID-19 and the potential for a sluggish recovery.
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 July of 2020. source: Markit Economics
Manufacturing PMI in South Korea is expected to be 48.10 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.