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KIET Manufacturing Business Survey Index (BSI) for the 2nd Quarter of 2024

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 sec­ond quarter (Q2) of 2024 remained below the baseline (100). However, most feeder indices increased compared to the previous quarter. Specifically, both business conditions (91) and sales (94) improved compared to the first quarter (83 and 82), reaching their highest levels in over two years. Domestic demand (92) and exports (99) still remain below 100 but have both turned to an upward trajectory after declining in the previ­ous quarter (83 and 88). Both facility investment (100) and employment (99) rose together for the first time in four quarters, while inventory (101) increased slightly. Ordinary profit (91) has also turned upward compared to the previous quarter. BSI forecasts for Q3 2024 indicate that manu­facturers anticipate a more favorable business environment. Business conditions (97) and sales (98) should top out at just under 100, and are showing robust performance compared to the beginning of the year (Q1 business conditions 90, sales 94). The outlook for domestic demand (96) is expected to fall below 100, while the outlook for exports (101) is expected to remain above 100. Facility investment (99) and employment (100) are projected to hold steady quarter over quarter.

Suggested Citation

  • Han, Jung Min, 2024. "KIET Manufacturing Business Survey Index (BSI) for the 2nd Quarter of 2024," Industrial Economic Review 24-21, Korea Institute for Industrial Economics and Trade.
    • Handle: RePEc:ris:kieter:2024_021
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    More about this item

    Keywords

    Business Survey Index; business sentiment; business cycles; exports; production; economic growth; macroeconomic outlook;
    All these keywords.

    JEL classification:

    • E60 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - General
    • E66 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - General Outlook and Conditions
    • L60 - Industrial Organization - - Industry Studies: Manufacturing - - - General

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