The S&P Global South Korea Manufacturing PMI rose to 49 in November 2022 from 48.2 in October, signaling a sustained contraction in the country’s manufacturing sector, though the rate of decline slowed for the second straight month and was only mild overall. Output and new orders both registered weaker declines, attributed mainly to easing supply chain disruptions. Concurrently, buying activity and inventory levels were reflective of South Korea's manufacturing sector's demand climate. Employment levels lowered for the third month running and at the sharpest rate in four. Meanwhile, input prices rose at a rate well above the series average and the rate of selling price inflation accelerated to a four-month high. Cost pressures not only continued to dampen demand but also weighed upon overall business sentiment which was at the lowest level since September 2020. source: Markit Economics
Manufacturing PMI in South Korea averaged 49.60 points from 2011 until 2022, 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 December of 2022.
Manufacturing PMI in South Korea is expected to be 48.00 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the South Korea Manufacturing PMI is projected to trend around 50.00 points in 2023 and 50.30 points in 2024, according to our econometric models.