The S&P Global South Korea Manufacturing PMI rose to 48.4 in May 2023 from 48.1 in April but remained below the 50 no-change mark and pointed to the 11th consecutive monthly deterioration in the health of the country’s manufacturing sector. Both output and new order volumes were scaled back at quicker rates than those seen in April as economic weakness at home and internationally continued to weigh on production and demand. That said, the fall in export sales slowed in the latest survey period. More positive news came from the supply side, as manufacturers signaled a further improvement in supply chains - the strongest in just over seven years. Price pressures also eased in May, as panel members signaled the softest rise in average cost burdens since September 2020. As a result, output charges were lowered for the first time in 32 months, with firms looking to stimulate purchases. Finally, the 12-month outlook for output strengthened to a ten-month high during May. source: Markit Economics
Manufacturing PMI in South Korea averaged 49.54 points from 2011 until 2023, 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 June of 2023.
Manufacturing PMI in South Korea is expected to be 50.00 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations.