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<Econ> S Korea Apr S&P Manufacturing PMI Rises to 53.6, Hits Over Four-Year High
S&P Global announced that, after seasonal adjustment, S Korea's S&P Manufacturing Purchasing Managers' Index (PMI) rose from 52.6 in March to 53.6 in April, staying above the 50 bo...
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<Econ> S Korea Apr S&P Manufacturing PMI Rises to 53.6, Hits Over Four-Year High
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S&P Global announced that, after seasonal adjustment, S Korea's S&P Manufacturing Purchasing Managers' Index (PMI) rose from 52.6 in March to 53.6 in April, staying above the 50 boom-bust line. The reading marked a more than four-year high since February 2022 and was above the long-term average. Output continued to expand, recording the strongest increase in 20 months. New orders surged, with the growth rate reaching the highest level since February 2022, partly driven by clients building safety inventories to cope with rising prices and delivery delays. New export orders also rebounded, though the increase was only moderate.

Amid rising raw material prices driven by the Middle East conflict, particularly oil and fuel, the rate of input cost inflation hit a record high since the survey began in April 2004. Companies passed on higher costs to customers, with output price inflation also reaching a record high. The deterioration in supplier delivery times was the most severe since June 2022. Employment increased for a second consecutive month, while backlogs of work rose for four straight months. Purchasing activity expanded, but supply disruptions led to a slight decline in inventories of purchases. Business confidence fell to a five-month low due to uncertainty over the duration of the conflict.

Related NewsCore Inflation Rate YoY for Apr in United States is 2.8%, higher than the previous value of 2.6%. The forecast was 2.7%.

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