BSI falls to lowest level in 30 months

The Business Survey Index (BSI), a barometer of the conditions that entrepreneurs actually feel in their fields, including domestic consumption and exports, fell to the lowest level in 30 months since July 1998.

According to the Federation of Korean Industries¡¯ survey results of 600 large companies based on turnover by business lines, the BSI, with a score of 100 based on the previous month, stood at 62.7 in January, casting gloomy prospects for the slumping economy to continue.

The January BSI is the lowest since July 1998¡¯s 60 and represents the fourth monthly fall in a row, following 92 in October last year, 81 in November, and 68 in December.

The FKI attributed the consecutive fall to the uneasy financial market in the wake of the delay of the financial restructuring, worsened financial situation of enterprises, and reduced sales stemming from extremely dampened consumption psychology, among other things.

Park Won-Jae parkwj@donga.com