A new survey shows that South Korean manufacturers are expecting the manufacturing business will slow down in the third quarter after the industry enjoyed the strongest boom in nearly two years in the second.
According to the Korea Institute for Industrial Economics and Trade(KIET), the business survey index(BSI) for the July to September period among 604 manufacturing companies across the country was measured to be 96 for market condition and 97 for revenue.
Manufacturers’ BSI measures corporate confidence in the manufacturing sector. A figure of more than 100 means optimists outnumber pessimists.
Manufacturers’ BSI for the second quarter stood at 100 for market condition and 105 for revenue.
Meanwhile, manufacturers’ BSI for domestic demand and exports fell slightly from the second quarter to 96 and 99, respectively.