Korea PMI November 2021


Korea: Manufacturing PMI improves in November

December 1, 2021

The IHS Markit Manufacturing Purchasing Managers' Index (PMI) rose to 50.9 in November from October's 50.2. As a result, the index moved further above the 50-threshold, signaling a faster improvement in business conditions compared to the previous month.

The uptick came despite falling output and new orders being broadly stagnant, growing at a meager rate. That said, export orders rose as the Asia/Pacific region showed improving demand. Meanwhile, employment levels fell at the quickest pace in ten months, amid bigger backlogs stoked by material shortages. On the price front, average input costs rose at the fastest clip on record, leading to accelerating prices at the factory gate, as businesses passed the bill on to clients.

FocusEconomics Consensus Forecast panelists expect fixed investment to grow 2.7% in 2022, which is down 0.2 percentage points from last month’s forecast. Moving to 2023, the panel sees fixed investment growing 2.6%.


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Korea PMI Chart

Korea PMI November 2021 0

Note: Purchasing Managers’ Index (PMI). A reading above 50 indicates an improvement in operating conditions over the previous month.
Source: IHS Markit.

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