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Data from FMP. Forecasts by Sigmanomics Forecast Engine.
South KoreaSouth Korea Nikkei Manufacturing PMI fell to 47.5 in June 2019
FMPMonthlyReleased July 2019
South Korea Nikkei Manufacturing PMI fell to 47.5 in June 2019, released July 2019, down 0.9 from May's 48.4 reading. The reading matched the 49.3 consensus. Year-over-year, the indicator is down 2.3. Over the past 3 months, Nikkei Manufacturing PMI averaged 48.63, vs 48.06 in the prior 3-month window. The reading is in the 9th percentile of the trailing 24-month range.
Latest Release
47.5
Actual
49.3
Consensus
48.4
Previous
Median Absolute Error
±1.05
across last 5 releases
Last Call
Jul 2019
Predicted: 48.75
Actual: 47.5
Error: +1.25
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
Nikkei Manufacturing PMI (South Korea) was reported at 47.50 in July 2019. This missed the market consensus of 49.30 by 1.80. The reading fell from the previous value of 48.40. This is classified as a medium-impact indicator released on a monthly basis.
WHY IT MATTERS
The indicator has been trending downward over the last three releases. The trailing three releases averaged 48.70, up from the prior three at 48.10.
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 July 2019.
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Nikkei Manufacturing PMI - KR
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About Nikkei Manufacturing PMI — South Korea
DEFINITION
The Nikkei Manufacturing PMI is a widely recognized financial indicator that measures the performance of the manufacturing sector in Japan. It provides valuable insights into the country's economic health by tracking changes in key factors such as production, new orders, and employment. This data is used by investors, businesses, and policymakers to make informed decisions and assess the overall strength of the Japanese economy. With its timely and accurate reporting, the Nikkei Manufacturing PMI is an essential tool for understanding the current and future state of Japan's manufacturing industry.
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 (Jun 2019): actual 47.5, consensus 49.3. Prior reading (Jun 2019): 47.5. Before that (May 2019): 48.4.
WHAT'S NEXT
Sigmacast's 1-month forecast points to a similar reading versus the latest print, with the 3-month outlook reinforcing that direction. Both horizons are aligned bearish for this indicator, suggesting a consistent trend signal. Trend-driven dynamics are the primary headwind in the current projection. This indicator correlates most strongly with USD/KRW (Bullish KRW, r=-0.50) — a useful reference for forex-focused traders.