Small and Mid-sized Manufacturers Posted 8 Month Low

In September, the production index for small and mid-sized manufacturers hit an eight month low. 

According to a November 5 report by the IBK Economic Research Institute, the production index for 3070 small to mid-sized enterprises (SMEs) in the manufacturing sector was 123.6 in September, a downward trend for the second month in a row, and at the lowest level since last January. This figure is a 2.4% decline from August, and a 2% year-on-year decrease. 

The report indicates that it is mainly attributable to a sharp decrease in the production of chemicals, apparel, and fur products.

In the same month, the Operation Ratio Index for SMEs in the manufacturing industry showed 71.7%, negative growth for five consecutive months. The proportion of SMEs investing in equipment to those that are not was 15.6%, down 2.5% from the previous month.