Experts feel that the manufacturing industry is down for the ninth month in a row… Outlook slightly improved

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The manufacturing industry fell for the ninth straight month this month, as evaluated by industry experts, and fell to the lowest level since May last year.

Industry outlook for next month is still negative, but it is expected that it will be slightly better than this month.

As a result of a survey of the expert survey index (PSI) of 180 experts in each major industry in Korea, the Korea Institute for Industrial Economics and Trade announced that the manufacturing industry PSI in December was 91, which was lower than in November (94).

PSI is based on 100 (no change from the previous month), the closer it is to 200, the more opinions are improved compared to the previous month, and the closer it is to 0, the more bad opinions are.

The manufacturing industry PSI fell for the ninth consecutive month from the previous month, recording the lowest level in a year and seven months since May last year.

Domestic demand (98) fell for the third straight month and fell below 100 for the first time since May last year, and exports (101) only slightly exceeded 100.

Production (100) turned downward unlike the previous month, and investment (103) continued to decline in the fourth quarter.

Profitability (82) fell below 100 for three consecutive months.

By sub-sector, excluding automobiles (131) and mobile phones (112), many sectors such as steel (47), semiconductors (67), displays (60), and machinery (84) fell below 100.

Compared with the previous month, semiconductors (+19), chemicals (+16), steel (+7) and automobiles (+5) rose in sectors such as machinery (-24), textiles (-18) and shipbuilding (-12). , BioHealth (-35) and others fell by double digits.

The industry outlook for January next year’s PSI was 91, higher than the December forecast (87) announced in November, but still did not exceed 100.

Business forecast for January 2022 by manufacturing type (Photo=provided by the Korea Institute for Industrial Economics and Trade, Yonhap News)
(Photo = provided by Yonhap News TV, provided by the Korea Institute for Industrial Economics and Trade, Yonhap News)

Reference-news.sbs.co.kr

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