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Survey Outline

Overview

Survey Name

  • Composite Index of Business Indicators

Survey Type

  • Analytic statistics

Type of Statistics

  • General statistics, Approval No. 101021 (Feb. 1981)

Purpose

  • Economic fluctuation refers to changes in overall economic activities, such as production, consumption, employment, finance, trade, investment, etc. Composite indexes examine and predict overall direction of economic change, speed of change, economic situation and turning point in economic conditions by selecting major indices to well reflect each part of economy, statistically processing and integrating the selected indices.

Frequency

  • Monthly

History

  • Feb. 1981: Approval for the production of statistics
  • March 1981: The first publicity - 19 indicators (leading: 9, coincident: 5, lagging:5)
    • * Jointly developed by the KDI and the National Bureau of Statistics (the former Statistics Korea) of the Economic Planning Board
  • March 1984: 1st revision, 22 indicators (leading: 10, coincident: 5, lagging: 7)
  • July 1988: 2nd revision, 21 indicators (leading: 10, coincident: 5, lagging: 6)
  • Sep. 1991: 3rd revision, 23 indicators (leading: 10, coincident: 8, lagging: 5)
  • Sep. 1993: 4th revision, 23 indicators (leading: 10, coincident: 8, lagging: 5)
  • 1993: Change in the approval No. for the statistics production
  • Feb. 1997: 5th revision, 26 indicators (leading: 10, coincident: 10, lagging: 6)
  • Feb. 2003: 6th revision, 22 indicators (leading: 9, coincident: 7, lagging: 6)
    • Modified standardization method (Absolute average → Standard deviation)
  • Feb. 2006: 7th revision, 24 indicators (leading: 10, coincident: 8, lagging: 6)
  • Feb. 2012: 8th revision, 21 indicators (leading: 9, coincident: 7, lagging: 5)
    • Modified supplementary indicators on leading index (year-on-year → cyclical change)
  • Jun. 2017: 9th revision, 20 indicators (leading: 8, coincident: 7, lagging: 5)
  • Sep. 2019: 10th revision, 19 indicators (leading: 7, coincident: 7, lagging: 5)

Compilation Process

  • Collect and process 19 indicators calculated by statistics institutions including Statistics Korea
  • Collect configuration index → Calculate month on month change rates → Standardize a gap of fluctuation rate → Calculate composite increase and decrease rate → Adjust increase/decrease gap and adjust GDP trend → Calculate composite index → Calculate cyclical changes

Indicators

  • Coincident composite index (7): Index of industrial production, Index of services, Value of construction completed, Index of retail sales, Non agricultural employment size, Domestic shipment index, Imports
  • Leading composite index (7): Inventory cycle indicator, Economic sentiment index, Value of construction orders received, Domestic Machinery Shipment index, Export and import price index, KOSPI, Term spread
  • Lagging composite index (5): Number of employed persons, Index of producer's inventory of finished goods, Change rate of the consumer price index, Value of consumer goods imports (real), Yields on commercial paper

Publication Title

Method of Publication and URL

  • Media release, KOSIS, Online publications, Monthly publication
    URL: https://kosis.kr

Publication Frequency

  • Monthly

Publication Title

  • Composite Index of Business Indicators
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