Korea Business Confidence December 2022

Korea

Korea: Manufacturing firms' month-ahead business sentiment falls in December

November 23, 2022

Manufacturing firms’ month-ahead business confidence fell to 69.0 in December from November's 73.0. December's result marked the weakest sentiment since October 2020. Despite the uptick, the index remained entrenched below the 100-threshold, indicating pessimism among businesses.

Month-ahead business sentiment fell among both export-oriented and domestic demand-oriented manufacturing firms. The fall for export-oriented firms was more acute, likely related with the expected softening of foreign demand due to a weakening global economy.

FocusEconomics Consensus Forecast panelists project fixed investment to grow 1.4% in 2023, which is down 0.3 percentage points from last month’s forecast. Moving to 2024, the panel sees fixed investment growing 2.1%.


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Korea Business Confidence December 2022

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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