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.
Author: Frederico Teixeira de Abreu, Junior Economist