Korea PMI May 2020


Korea: Manufacturing PMI ticks down in May

June 1, 2020

The IHS Markit manufacturing Purchasing Managers’ Index (PMI) ticked down to 41.3 in May from 41.6 in April, moving slightly further below the 50-threshold that separates an improvement from a deterioration in the manufacturing sector over the previous month.

May’s print was driven by the second sharpest fall in output since January 2009 easing a notch from April, due to weak demand, particularly from abroad. Employment levels fell at a survey record rate in May, while business confidence remained severely depressed. On the price front, firms slashed output prices, and input prices increased modestly.

FocusEconomics Consensus Forecast panelists expect fixed investment to grow 0.1% in 2020, which is up 0.5 percentage points from last month’s forecasts. Moving to 2021, the panel sees fixed investment growing 2.7%.

Author:, Economist

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Korea PMI Chart

Korea PMI May 20 20

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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