Korea Business Confidence July 2018

Korea

Korea: Forward-looking business confidence increases for July

June 29, 2018

The Bank of Korea’s forward-looking business confidence indicator (BSI) for the manufacturing sector has registered pessimism among businesses for every month since June 2011. For July 2018, the indicator increased to 80 points from June’s revised 79 points (previously reported: 80 points). Nevertheless, the BSI remained below the 100-point threshold for July, signaling yet another month of pessimism among Korean manufacturers.

A breakdown of the BSI components showed that, for July, businesses in the manufacturing sector were less pessimistic in their sales, sales prices and profitability expectations. Meanwhile, manufacturers noted no change in their optimism regarding raw material purchase prices for July.

Confidence among non-manufacturing businesses—the mainstay of the Korean economy—increased to 85 points for July from 82 points for June.

FocusEconomics Consensus Forecast panelists expect fixed investment to expand 2.8% in 2018, which is up 0.1 percentage points from last month’s forecast. In 2019, the panel expects fixed investment to grow 2.9%.


Author:, Economist

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Korea Business Confidence July 2018

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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