Korea PMI

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Korea: PMI enters expansion territory in August

September 3, 2014

The manufacturing HSBC Purchasing Managers’ Index (PMI) inched up from 49.3 in July to 50.3 in August, which represented the highest level in five months. As a result of August’s increase, the PMI now rests just above the 50-threshold that separates expansion from contraction in the manufacturing sector.

According to HSBC, “Korea’s manufacturing conditions improved over the month for the first time since April 2014. Domestic demand increased following new product launches and is expected to be supported by recent fiscal and monetary stimulus measures. But export orders still contracted as demand from China and Japan decreased.” Therefore, HSBC expects Korea to have modest growth in Q3.

FocusEconomics Consensus Forecast panelists expect fixed investment to expand 4.0% in 2014, which is down 0.2 percentage points from last month’s forecast. In 2015, the panel expects growth in fixed investment to moderate to 3.7%.


Author: Angela Bouzanis, Senior Economist

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Korea PMI August 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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