Industrial Research Institute Announces Expert PSI Survey Results
With the recovery of the semiconductor industry, the manufacturing business outlook for April appeared positive.
The Korea Institute for Industrial Economics and Trade announced on the 24th that the April Manufacturing Business Outlook PSI was 114, exceeding 100 for four consecutive months, based on a survey of 136 experts conducted from the 11th to the 15th.
The PSI is based on 100 (no change from the previous month), and the closer it is to 200, the greater the experts' expectations for business improvement compared to the previous month. Conversely, a PSI below 100 and closer to 0 indicates more opinions of business deterioration.
The April business outlook PSI fell by 5 points from the previous month (119). Specifically, domestic demand (106), exports (115), and production (107) all exceeded the baseline, while by sector, the ICT sector exceeded the baseline at 121. The machinery sector (111) and materials sector (105) also exceeded the baseline for two consecutive months.
By manufacturing sector, semiconductors (158), home appliances (123), and shipbuilding (129) showed a significantly positive business outlook by exceeding the baseline. Chemicals (113), bio-health (111), and machinery (106) were also above the baseline.
For semiconductors, the positive evaluation was based on ▲price increases and demand growth ▲accelerated inventory reduction ▲continued product mix improvement ▲increased semiconductor demand and expected sustained demand due to the spread of artificial intelligence (AI) ▲recovery of memory market conditions and upstream industries.
However, compared to the previous month, only some sectors such as shipbuilding, home appliances, and chemicals showed increases. Industries such as mobile phones, automobiles, and steel experienced double-digit declines, indicating a slowdown in business conditions.
The March manufacturing business conditions index was 114, exceeding 100 for eight consecutive months. Compared to the previous month, it showed an upward trend for three consecutive months.
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