Korea Business Confidence November 2021

Korea

Korea: Business confidence records worst reading since March and remains pessimistic in November

October 29, 2021

Business confidence among manufacturing firms fell to 88.0 in November from October's 93.0. November's result marked the worst reading since March. As a result, the index remained below the 100-point threshold, indicating that businesses were pessimistic.

Taking a closer look at the details, the deterioration came largely on the back of weaker prospects in both the domestic and export markets. Meanwhile, manufacturing firms became less upbeat regarding sales and more downbeat regarding profitability. Contrastingly, firms were more upbeat regarding raw material and sales prices.

FocusEconomics Consensus Forecast panelists expect fixed investment to rise 2.7% in 2022, which is down 0.2 percentage points from last month’s forecast. In 2023, the panel expects fixed investment to grow 2.6%.


Author:, Junior Economist

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Korea Business Confidence November 2021 1

Note: Business Survey Index (BSI). An index value above 100 indicates an optimistic outlook while a value below 100 indicates a pessimistic outlook.
Source: Bank of Korea.


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