Business sentiment rebounded in September after the worsening crisis in Europe dampened export prospects and caused the index to plummet in August. The forward-looking Business Survey Index (BSI) on business conditions in the manufacturing sector rose from 70 points in August, which had marked the lowest level since May 2009, to 75 points in September. The improvement came on the back of slightly less pessimistic prospects for export growth and sales despite tensions in the Eurozone, which continue to weigh on demand for Korea's manufactured products. Despite the monthly improvement, the index remains well below the 100-point threshold that separates optimistic from pessimistic territory. Along with the prospective business confidence indicator for September, the Bank of Korea (BoK) also publishes an index on current perception of business conditions, which refers to August. According to the BoK, current perceptions in the manufacturing sector inched up from 71 points in July to 72 points in August.
Korea Business Confidence
Business confidence rebounds in September
August 30, 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.