Korea PMI

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Korea: Manufacturing PMI falls into contraction territory in May

June 2, 2014

The manufacturing HSBC Purchasing Managers Index (PMI) inched down from 50.2 in April to 49.5 in May, which represented the third consecutive drop in the index. As a result, the PMI index fell below the 50-threshold that separates contraction from expansion in the manufacturing sector.

According to HSBC, May’s fall reflected that Korean manufacturers reported lower new orders, a decline in stocks of finished goods and a decrease in both input and output prices. Despite the fall in output, the employment sub-category rose over the previous month. HSBC added that “Korea’s economic outlook remains challenging.”

FocusEconomics Consensus Forecast panelists expect fixed investment to expand 3.9% in 2014, which is up 0.2 percentage points from last month’s forecast. In 2015, the panel expects growth in fixed investment to moderate to 3.7%.


Author:, Senior Economist

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Korea PMI May 2014

Note: HSBC Korea Purchasing Managers’ Index (PMI). A reading above 50 indicates an expansion in business activity while a value below 50 points to a contraction.
Source: HSBC and Markit


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