The IHS Markit South Korea Manufacturing PMI edged up to 53.9 in June 2021 from 53.7 in May, indicating a moderate improvement in the health of the manufacturing sector and extending the current sequence of growth to nine months. Output expanded at a modest rate, while new orders grew faster, due to an increase in both domestic and external demand supported new business inflows throughout the month. Meanwhile, employment rose for the fourth straight month. In line with stronger demand, backlogs of work increased at a solid rate in the same period. On the price front, input costs inflation accelerated to the steepest on record, due to a faster rise in prices of raw material, amid acute shortages. Concurrently, output prices increased to the fastest pace since the series began in April 2004, as firms sought to pass higher costs on to customers. Finally, business confidence improved due to hopes that the economy would continue to recover from COVID-19 impacts. source: Markit Economics
Manufacturing PMI in South Korea averaged 49.42 points from 2011 until 2021, reaching an all time high of 55.30 points in February 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 July of 2021.
Manufacturing PMI in South Korea is expected to be 53.00 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 52.00 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.