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.
Author: Frederico Teixeira de Abreu, Junior Economist