KIET Manufacturing Business Survey Index (BSI) for the 2nd Quarter of 2025

Jung Min Han
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Jung Min Han: Korea Institute for Industrial Economics and Trade

No 27, 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 second quarter (Q2) of 2025 remained below the baseline (100). However, most feeder indices rose compared to the previous quarter. Business conditions (86) turned upward for the first time in four quarters, while sales (88) also rebounded significantly from the previous quarter’s level of 77.

Domestic demand (87) and exports (89) remained below the benchmark level of 100, but unlike the previous quarter (domestic demand 79, exports 86), both increased together for the first time in four quarters. Facility investment (96) and employment (97) edged up compared to the previous quarter, while Ordinary profit (84) and financial conditions (84) also bounced back from their Q1 levels. BSI forecasts for Q3 2025 indicate that manufacturers anticipate a slightly more favorable business environment compared to the previous quarter.

Both business conditions (93) and sales (95) remain below the baseline (100) for the fifth consecutive quarter, and only business conditions are expected to continue to improve. Domestic demand (94) is expected to remain at the same level as the previous quarter, while exports (94) are projected to decline slightly. Facility investment (97) and employment (97) are both expected to remain at similar levels to the previous quarter.

Keywords: economic analysis; macroeconomic analysis; economic forecasting; forecasting; outlook; economic outlook; macroeconomic forecasting; macroeconomic outlook; Business Survey Index; Korea; South Korea (search for similar items in EconPapers)
JEL-codes: E00 E22 E23 E32 E66 (search for similar items in EconPapers)
Pages: 5
Date: 2025-08-31
New Economics Papers: this item is included in nep-inv
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Published in KIET Industrial Economic Review Vol. 30, No. 4, pp. 59-64

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