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KIET Manufacturing Business Survey Index (BSI) for the 3rd 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 third quarter (Q3) of 2024 remained below the baseline (100). Most feeder indices declined compared to the previous quarter. Business conditions (from 91 to 86), sales (from 94 to 87), domestic demand (from 92 to 86) and exports (from 99 to 90) all fell compared to Q2 but remained higher than in Q3 2023 (domestic demand 81, exports 87). Facility investment (98) and employment (98) dipped slightly after consecutive quarters of growth, while inventory (101) remained above 100 for the second straight quarter. Ordinary profit (85) also declined, in contrast to the previous quarter’s index of 91. BSI forecasts for Q4 2024 indicate that manufacturers anticipate a more unfavorable business environment. Indices for business conditions (93) and sales (95) remain below 100, continuing ing their decline for the second consecutive quarter. The outlook for domestic demand (94) has remained below 100 for two consecutive quarters; the outlook for exports (96) has fallen below 100 for the first time in three quarters. Facility investment (97) and employment (99) also slid, however modestly.

Suggested Citation

  • Han, Jung Min, 2024. "KIET Manufacturing Business Survey Index (BSI) for the 3rd Quarter of 2024," Industrial Economic Review 24-26, Korea Institute for Industrial Economics and Trade.
    • Handle: RePEc:ris:kieter:2024_026
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    Keywords

    production outlook; export outlook; manufacturing outlook; forecasting; manufacturing; Korea; KIET;
    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

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