Business sentiment plummeted in August as weak global demand and the worsening crisis in Europe dampen export prospects. The forward-looking Business Survey Index (BSI) on business conditions in the manufacturing sector fell from 81 points in July to 70 points, the lowest level since May 2009. The weakening came on the back of deteriorating prospects for export growth and sales, as tensions in the Eurozone continue to weigh on demand 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 August, the Bank of Korea (BoK) also publishes an index on current perception of business conditions, which refers to July. According to the BoK, current perceptions in the manufacturing sector followed suit and plunged from 82 points in June to 71 points in July.
Korea Business Confidence
Business confidence plummets amid dim exports outlook
July 30, 2012
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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
The forward-looking business confidence indicator (BSI) for the manufacturing sector produced by the Bank of Korea (BoK) rose from 74 points in September to 75 points in October.
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.