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KIET Manufacturing Business Survey Index (BSI) for the 1st Quarter of 2025

Author

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  • Han, Jung Min

    (Korea Institute for Industrial Economics and Trade)

Abstract

The overall composite Business Survey Index for the manufacturing sector in the first quarter (Q1) of 2025 remained under the baseline (100). Most feeder indices declined compared to the previous quarter. Business conditions slightly dipped from 84 to 78, and sales further declined to 77, compared to 87 in the previous quarter. Domestic demand (79) and exports (86) remained below the benchmark level of 100, recording even lower levels than in the previous quarter, when domestic demand posted an 86 and exports a 90. Facility investment (95) remained at the same level as the previous quarter, while inventory (99) continued to stay below the baseline (100). Meanwhile, Ordinary profit (80) turned downward again. Only employment (96) showed a slight increase compared to the previous quarter. BSI forecasts for Q2 2025 suggest that both business conditions BSI (91) and sales BSI (95) will remain below the baseline (100) for the fourth consecutive quarter. The outlook for domestic demand (94) and exports (96) has improved compared to the previous quarter, but both are still expected to stay below the baseline of 100. Facility investment (96) and employment (97) are also projected to rise slightly from the previous quarter.

Suggested Citation

  • Han, Jung Min, 2025. "KIET Manufacturing Business Survey Index (BSI) for the 1st Quarter of 2025," Industrial Economic Review 25-11, Korea Institute for Industrial Economics and Trade.
    • Handle: RePEc:ris:kieter:2025_011
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    More about this item

    Keywords

    BSI; Business Survey Index; industrial outlook; industrial forecasting; industrial projections; South Korea; Korea Institute for Industrial Economics and Trade; KIET;
    All these keywords.

    JEL classification:

    • E30 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - General (includes Measurement and Data)
    • E37 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Forecasting and Simulation: Models and Applications

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