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KIET Manufacturing Business Survey Index (BSI) for the 4th Quarter 2023

Author

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  • Han, Jung Min

    (Korea Institute for Industrial Economics and Trade)

Abstract

The overall composite Business Survey Index (BSI) for the manufacturing sector in the fourth quarter (Q4) of 2023 was below the baseline (100). However, most feeder indices have slightly increased compared to the previous quarter. Specifically, business conditions (86), sales (91), domestic demand (90), and exports (94) in the manufacturing sector increased in Q4. Facilities investment (96) and inventory (100) remained the same as in the previous quarter (Q3). The BSI outlook for Q1 2024 indicates that most indices for manufacturers are expected to remain below the baseline (100). Specifically, on a quarter-by-quarter basis, the index for business conditions (90) is expected to fall for the first time in a year, while the sales (94) index is expected to drop for the first time in two quarters. Only the index for the operation ratio of facilities (97) held steady from Q3. On a year-on-year basis, the overall BSI outlook for business conditions and sales does not look promising.

Suggested Citation

  • Han, Jung Min, 2024. "KIET Manufacturing Business Survey Index (BSI) for the 4th Quarter 2023," Industrial Economic Review 24-5, Korea Institute for Industrial Economics and Trade.
    • Handle: RePEc:ris:kieter:2024_005
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    More about this item

    Keywords

    industrial projections; economic projections; trade projections; economic outlook; Korean economy; Korean industry; KIET; Korea;
    All these keywords.

    JEL classification:

    • E66 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - General Outlook and Conditions
    • F17 - International Economics - - Trade - - - Trade Forecasting and Simulation
    • F47 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - Forecasting and Simulation: Models and Applications

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