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Korea Business Confidence August 2022

Korea: Business confidence among manufacturing firms decreases in August

Business confidence among manufacturing firms fell to 78.0 in August from July’s 83.0. August’s result marked the worst reading since January 2021. As such, the index remained entrenched below the 100-threshold, signaling sustained pessimism among businesses.

Business confidence fell sharply among both export-orientated and domestic demand-orientated firms. This likely happened on the back of growing fears of a global recession, tighter financial conditions and a worsening of the Covid-19 situation.

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