Korea: Business confidence hits multi-year high in April
March 31, 2021
Business confidence amid manufacturing firms came in at 91.0 in April, up notably from March's 85.0. April's result marked the strongest reading since August 2011. As a result, the index moved closer to the 100-point threshold, but still indicated pessimism among businesses.
The improvement came as export-oriented firms turned slightly optimistic, and domestic demand-oriented firms became less pessimistic. In addition, overall sales prospects also became positive. However, despite a broadly positive development regarding expectations, businesses’ outlook on profitability deteriorated slightly.
Author: Frederico Teixeira de Abreu, Junior Economist