Business sentiment fell in October as the worsening crisis in Europe dampens export prospects. The forward-looking Business Survey Index (BSI) on business conditions in the manufacturing sector fell from 75 points in September to 72 points in October, partially erasing the previous month's gain. The deterioration came on the back of more pessimistic prospects for export growth and sales for Korea's manufactured products. With the monthly drop, the index moved further below the 100-point threshold that separates optimistic from pessimistic territory. Along with the prospective business confidence indicator for October, the Bank of Korea (BoK) also publishes an index on current perception of business conditions, which refers to September. According to the BoK, current perceptions in the manufacturing sector dropped from 72 points in August to 69 points in September.
Korea Business Confidence
Business confidence dips in October
September 27, 2012
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Korea Business Confidence Chart
Note: Business Survey Index (BSI). An index value above 100 indicates an optimistic outlook while a value below 100 indicates a pessimistic outlook.
Source: Bank of Korea (BoK).
Korea Economic News
October 13, 2016
At its 13 October monetary policy meeting, the Bank of Korea (BoK) announced that it will hold the base rate constant at a record low of 1.25%, which was largely in line with market expectations.
October 5, 2016
In September, consumer prices rose 0.6% over the previous month, which contrasted the 0.1% decrease in August and overshot the 0.2% increase the markets had expected.
October 3, 2016
Korea’s Customs Services reported that exports totaled USD 40.9 billion in September, which represented a 5.9% contraction over the USD 43.4 billion recorded in the same month last year.
September 30, 2016
In August, industrial production accelerated and expanded 2.3% year-on-year, which was up from both the 1.6% increase registered in July and the 1.6% rise the markets had expected.
September 30, 2016
Activity in Korea’s manufacturing sector deteriorated significantly in Q3.