Korea: Forward-looking business confidence falls in June
The Bank of Korea’s forward-looking business confidence indicator (BSI) for manufacturers ticked down to 75 in June from 77 in May, while confidence in the non-manufacturing sector fell to 72 from 77. Both readings remained well below the crucial 100-point threshold separating pessimism from optimism.
Although more detailed information about the drivers of non-manufacturing confidence is not available, the fall in confidence in the manufacturing sector was the result of firms’ more downbeat assessments of sale volumes and prices, although profitability and raw material purchase prices were viewed more favorably.