"Domestic Manufacturing Sector Expected to Improve in November"

The domestic manufacturing sector is expected to improve in November.

The Korea Institute for Industrial Economics and Trade announced on October 26 that, according to a Professional Survey Index (PSI) conducted among 119 industry experts from October 13 to 17, the manufacturing outlook PSI for November was tallied at 106, exceeding the baseline.

The PSI uses 100 (no change from the previous month) as a baseline; the closer the index is to 200, the more experts believe conditions have improved compared to the previous month. Conversely, the closer the index is to 0, the more experts believe conditions have deteriorated.

The November outlook PSI rose slightly by 4 points from the previous month (102), marking the fifth consecutive month it has remained above the baseline.

Among the detailed indicators, both domestic demand (107) and exports (113) rose by 15 points compared to the previous month, with exports exceeding the baseline for the first time in eight months. All other indicators, including production (108), investment (108), and profitability (104), also surpassed the baseline.

By sector, semiconductors (147) saw a 15-point increase from the previous month, further raising expectations for improvement. Bio-health (119), steel (114), home appliances (111), machinery (106), and chemicals (100) all posted figures at or above the baseline of 100, indicating a positive outlook. Chemicals (100) was right at the baseline.

Textiles (83), displays (92), shipbuilding (93), mobile phones (94), and automobiles (95) all fell below the baseline.

Meanwhile, the current condition index for manufacturing in October was 103, which, while above the baseline, marked a decline of 4 points from the previous month (107), signaling a downward trend.

Domestic demand (101) and exports (104) remained above the baseline. However, domestic demand fell by 5 points compared to the previous month, indicating a downward trend, while production (97) fell below the baseline.

This content was produced with the assistance of AI translation services.