Despite a sluggish construction industry, corporate sentiment in the economy has rebounded slightly for the first time in three months, attributed to the recovery in semiconductor exports.
According to the survey results of the Business Survey Index (BSI) and Economic Sentiment Index (ESI) for March released by the Bank of Korea on March 27, this month’s overall industry BSI recorded 69 points, marking a 1-point increase from the previous month.
The BSI is a statistic derived from the assessment and outlook of entrepreneurs regarding the current business situation. If negative responses outnumber positive ones, the index falls below 100.
The manufacturing industry’s BSI for March also increased by 1 point from the previous month, reaching 71. By sector, the electronics, video, and communication equipment industry saw an increase of 14 points, while other machinery and equipment increased by 3 points. However, the primary metals industry experienced a decline of 9 points.
Breaking down the manufacturing industry’s BSI by company size and type, large enterprises increased by 3 points, while small and medium-sized enterprises remained unchanged from the previous month. Both export-oriented and domestic-oriented enterprises each saw a 2-point increase.
The non-manufacturing industry’s BSI for March increased by 1 point from the previous month, reaching 68. By sector, there were increases in the information and communication industry by 7 points, transportation and warehousing industry by 5 points, and specialized scientific and technical services industry by 4 points.
Reflecting the Consumer Sentiment Index (CSI) in the BSI, the ESI for March stood at 92.2, representing a decrease of 1.1 points from the previous month. The ESI cycle fluctuation index, which removes seasonal factors, decreased to 92.7, down 0.2 points from the previous month.