Korea Business Confidence July 2016

Korea

Korea: Business confidence moderates in July

July 18, 2016

The forward-looking business confidence indicator (BSI) for the manufacturing sector elaborated by the Bank of Korea (BoK) inched down from 74 points in June to 72 points in July. The indicator dropped for the first time in July, following three consecutive months of increase. Furthermore, the indicator remains below the 100-point threshold that separates optimists from pessimists.

According to the Bank, economic sentiment among export-oriented firms decreased slightly in July, while sentiment among businesses oriented toward the domestic market remained stable over the previous month. Manufacturing firms’ expectations regarding sales and profitability were down slightly in July as the outlook on raw material purchase prices and on sales prices fell.

Meanwhile, the BSI’s current business conditions index remained unchanged in June at May’s 71 points.

FocusEconomics Consensus Forecast panelists expect fixed investment to expand 3.3% in 2016, which is unchanged from last month’s forecast. For 2017, the panel expects growth in fixed investment to increase 3.0%.


Author:, Senior Economist

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Korea Business Confidence July 2016 0

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


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