KIET Manufacturing Business Survey Index (BSI) for the 4th Quarter 2023

Jung Min Han ()
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Jung Min Han: Korea Institute for Industrial Economics and Trade, Postal: Sejong National Research Complex, Korea Institute for Industrial Economics and Trade, 370 Sicheong Dae-ro C-dong 8-12F 30147, Republic of Korea, http://www.kiet.re.kr/en

No 24-5, Industrial Economic Review from Korea Institute for Industrial Economics and Trade

Abstract: The overall composite Business Survey Index (BSI) for the manufacturing sector in the fourth quarter (Q4) of 2023 was below the baseline (100). However, most feeder indices have slightly increased compared to the previous quarter. Specifically, business conditions (86), sales (91), domestic demand (90), and exports (94) in the manufacturing sector increased in Q4. Facilities investment (96) and inventory (100) remained the same as in the previous quarter (Q3). The BSI outlook for Q1 2024 indicates that most indices for manufacturers are expected to remain below the baseline (100). Specifically, on a quarter-by-quarter basis, the index for business conditions (90) is expected to fall for the first time in a year, while the sales (94) index is expected to drop for the first time in two quarters. Only the index for the operation ratio of facilities (97) held steady from Q3. On a year-on-year basis, the overall BSI outlook for business conditions and sales does not look promising.

Keywords: industrial projections; economic projections; trade projections; economic outlook; Korean economy; Korean industry; KIET; Korea (search for similar items in EconPapers)
JEL-codes: E66 F17 F47 (search for similar items in EconPapers)
Pages: 6 pages
Date: 2024-02-28
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