Korea Business Confidence November 2020

Korea

Korea: Business confidence hits highest reading since February but remains in pessimist territory in November

October 29, 2020

Business confidence in the manufacturing sector jumped to 76.0 in November from October's 68.0. November's result marked the best performance since February. As a result, the index moved closer to the 100-point threshold, but still indicated pessimism among businesses.

Taking a closer look at the print, manufacturing businesses are significantly less gloomy on their expectations for sales in November when compared with October, albeit notably just below the backward-looking index for the same month. Moreover, the same pattern was followed by both export and domestic-oriented businesses on their outlook for business conditions.

FocusEconomics Consensus Forecast panelists expect fixed investment to rise 2.7% in 2021, which is up 0.1 percentage points from last month’s forecast. In 2022, the panel expects fixed investment to grow 3.0%.


Author:, Junior Economist

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Korea Business Confidence November 20 20

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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