Business sentiment index falls in the third quarter

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Business sentiment index falls in the third quarter

Korea’s manufacturing business sentiment dropped in the third quarter of 2019, with major industries expected to remain weak for the period, a state-run think tank said Sunday.

The business survey index (BSI) for the July to September period based on data collected from 1,050 manufacturers showed an overall market forecast of 90, with corresponding numbers for sales standing at 96, the Korea Institute for Industrial Economics and Trade (KIET) said.

A BSI of less than 100 means pessimists outnumber optimists.

The numbers represent an eight and six-point drop compared with the previous three-month period, with the index for the domestic market and exports both falling to 95 and 98, respectively. The index figures for facility investment and labor were both 98.

Among key industries, semiconductors stood at 94 for the third quarter of the year, with the electronic machineries, steel and metal and textile sectors all dropping below the 100 mark.

However, electronics, chemicals and precision machineries were above the 100 threshold.

The latest index showed the business sentiment for large companies falling nine points to 101, while small and medium-sized enterprises suffered a nine-point drop to 94.

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