Korea skyline

Korea PMI April 2021

Korea: Manufacturing PMI falls in April, albeit still marking an improvement in manufacturing conditions

The IHS Markit manufacturing Purchasing Managers’ Index (PMI) fell to 54.6 in April from March’s 55.3. That said, the index remained well above the 50-threshold, signaling a sustained improvement in business conditions from the previous month.

The softer amelioration came amid slower output growth but a still-strong rise in new orders, bolstered by stronger demand, both domestically and from abroad. This led manufacturing businesses to increase employment levels for the second successive month, although despite this backlogs of work expanded at the fastest pace in the last 11 years. Meanwhile, raw-material shortages and longer lead times led firms to build inventories for the sixth consecutive month. Consequently, manufacturers experienced higher input costs, which were partly passed on to clients.

On the outlook, Usamah Bhatti, economist at IHS Markit, said:

“South Korean goods producers remained optimistic in their outlook for activity over the coming year. Firms were hopeful that a wider economic recovery would drive demand for newly launched products in both domestic and external markets.”

Free sample report

Access essential information in the shortest time possible. FocusEconomics provide hundreds of consensus forecast reports from the most reputable economic research authorities in the world.
Close Left Media Arrows Left Media Circles Right Media Arrows Right Media Circles Arrow Quote Wave Address Email Telephone Man in front of screen with line chart Document with bar chart and magnifying glass Application window with bar chart Target with arrow Line Chart Stopwatch Globe with arrows Document with bar chart in front of screen Bar chart with magnifying glass and dollar sign Lightbulb Document with bookmark Laptop with download icon Calendar Icon Nav Menu Arrow Arrow Right Long Icon Arrow Right Icon Chevron Right Icon Chevron Left Icon Briefcase Icon Linkedin In Icon Full Linkedin Icon Filter Facebook Linkedin Twitter Pinterest