Korea: Business confidence improves
December 27, 2012
In January, the Bank of Korea's (BoK) forward-looking Business Survey Index (BSI) on business conditions in the manufacturing sector bounced to 70 points, up from the 67 points recorded in December, which had marked the lowest level since April 2009.
The improvement came on the back of less pessimistic prospects for domestic demand growth and sales for Korea's manufactured products. Nevertheless, 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 January, the BoK also publishes an index on current perception of business conditions, which refers to December. According to the BoK, current perceptions in the manufacturing sector inched up from 67 points in November to 68 points in December.