KIET Manufacturing Business Survey Index (BSI) for the 3rd Quarter of 2024

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, https://www.kiet.re.kr

No 24-26, 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 third quarter (Q3) of 2024 remained below the baseline (100). Most feeder indices declined compared to the previous quarter. Business conditions (from 91 to 86), sales (from 94 to 87), domestic demand (from 92 to 86) and exports (from 99 to 90) all fell compared to Q2 but remained higher than in Q3 2023 (domestic demand 81, exports 87). Facility investment (98) and employment (98) dipped slightly after consecutive quarters of growth, while inventory (101) remained above 100 for the second straight quarter. Ordinary profit (85) also declined, in contrast to the previous quarter’s index of 91. BSI forecasts for Q4 2024 indicate that manufacturers anticipate a more unfavorable business environment. Indices for business conditions (93) and sales (95) remain below 100, continuing ing their decline for the second consecutive quarter. The outlook for domestic demand (94) has remained below 100 for two consecutive quarters; the outlook for exports (96) has fallen below 100 for the first time in three quarters. Facility investment (97) and employment (99) also slid, however modestly.

Keywords: production outlook; export outlook; manufacturing outlook; forecasting; manufacturing; Korea; KIET (search for similar items in EconPapers)
JEL-codes: E60 E66 (search for similar items in EconPapers)
Pages: 6 pages
Date: 2024-09-01
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