Business Condition BSI in Gyeongnam Region: Manufacturing ↑ Non-Manufacturing ↓

Bank of Korea Gyeongnam Headquarters Business Survey
Sales BSI down 7p, Production BSI down 3p from previous month

[Asia Economy Yeongnam Reporting Headquarters Reporter Son Tae-seok] In the January Business Survey Index (BSI) for the Gyeongnam region, manufacturing increased while non-manufacturing decreased.

According to the January Gyeongnam regional business survey by the Bank of Korea Gyeongnam Headquarters on the 6th, the manufacturing business condition BSI rose by 3 points from the previous month to 69, while non-manufacturing fell by 1 point to 63. Manufacturing increased by 4 points and 2 points for large and small-to-medium enterprises respectively, and export companies and domestic companies also rose by 5 points and 3 points respectively.

The sales BSI, which indicates the situation compared to the same period last year, fell by 7 points from 84 to 77 compared to the previous month, and the production BSI also dropped by 3 points from 85 to 82. The new orders BSI decreased by 1 point from 78 to 77, the operating rate BSI fell by 4 points from 84 to 80, while the labor situation BSI rose by 2 points from 100 to 102 compared to the previous month.

For non-manufacturing, the sales BSI rose by 2 points from 68 to 70 compared to the previous month, profitability BSI increased by 1 point from 73 to 74, financial condition BSI rose by 1 point from 74 to 75, and labor situation BSI fell by 6 points from 84 to 78 compared to the previous month.

As for management difficulties, sluggish domestic demand (32.2%) was cited the most, followed by uncertain economic conditions (16.9%), rising labor costs and labor shortages (11.8%), among others.

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