Loading page content
Data from FMP. Forecasts by Sigmanomics Forecast Engine.
South KoreaSouth Korea Markit Manufacturing PMI climbed to 51.2 in October 2020
FMPMonthlyReleased November 2020
South Korea Markit Manufacturing PMI climbed to 51.2 in October 2020, released November 2020, up 1.4 from September's 49.8 reading. The reading matched the 48.8 consensus. The print is running well above the 12-month average of 46.69. Over the past 3 months, Markit Manufacturing PMI averaged 49.82, vs 43.96 in the prior 3-month window. Markit Manufacturing PMI is now the highest in 15 months.
Latest Release
51.2
Actual
48.8
Consensus
49.8
Previous
Median Absolute Error
±0.3
across last 5 releases
Last Call
Nov 2020
Predicted: 48.8
Actual: 51.2
Error: -2.4
Sigmacast Σ-direction model: consensus + ½ × mean(surprise, trailing 90d).
CORRELATED SYMBOLS— markets that historically move with this indicator
| Symbol | Direction | Correlation | Asset Class | Signal Bias | Action |
|---|---|---|---|---|---|
| USD/KRW | ▼ Inverse | −0.50 | FOREX | Bullish KRW | → View |
| KOSPI | ▲ Direct | +0.45 | INDEX | Bullish KR | → View |
| AUD/USD | ▲ Direct | +0.35 | FOREX | Watch | → View |
| XAU/USD | ▲ Direct | +0.30 | COMMODITIES | Watch | → View |
| BTC/USD | ▲ Direct | +0.30 | CRYPTO | Watch | → View |
Correlation based on 12-month rolling window. Click any symbol to view its Sigmanomics forecast page.
THE RELEASE
Markit Manufacturing PMI (South Korea) was reported at 53.80 in March 2022. The reading rose from the previous value of 52.80. This is classified as a medium-impact indicator released on a monthly basis.
WHY IT MATTERS
The indicator has been trending upward over the last three releases. The trailing three releases averaged 52.83, up from the prior three at 51.17.
THE MODEL'S TAKE
Historically, this indicator is negatively correlated with USD/KRW (Bullish KRW). A secondary relationship exists with KOSPI, positively correlated (Bullish KR).
WHAT TO WATCH NEXT
Same-country events in the next 14 days include Business Confidence (May 26) and Exports YoY (Jun 1).
Auto-generated from current model state · Refreshes on each release · Last update March 2022.
SHARE
Markit Manufacturing PMI - KR
Loading chart data...
About Markit Manufacturing PMI — South Korea
DEFINITION
Markit Manufacturing PMI is a widely recognized financial indicator that measures the performance of the manufacturing sector in a particular country. It provides valuable insights into the health and growth of the economy by tracking changes in key factors such as production, new orders, employment, and supplier deliveries. This data is collected through surveys of purchasing managers in the manufacturing industry, making it a reliable and timely indicator of economic activity. Investors, policymakers, and businesses use Markit Manufacturing PMI to make informed decisions and stay ahead of market trends.
WHY THIS INDICATOR MATTERS
Sentiment surveys are forward-looking inputs that often lead hard data on output and hiring. Sharp swings can drive cross-asset repricing. Surprises against consensus can drive short-term moves, particularly when the print breaks an established trend. Released monthly.
WHAT CHANGED THIS MONTH
Latest reading (Feb 2022): actual 53.8. Prior reading (Jan 2022): 52.8. Before that (Dec 2021): 51.9.
WHAT'S NEXT
Sigmacast's 1-month forecast points to a higher reading versus the latest print, with the 3-month outlook reinforcing that direction. Both horizons are aligned bullish for this indicator, suggesting a consistent trend signal. Trend-driven dynamics are the primary tailwind in the current projection. This indicator correlates most strongly with USD/KRW (Bullish KRW, r=-0.50) — a useful reference for forex-focused traders.