Korea Business Confidence March 2021

Korea

Korea: Business confidence improves but remains pessimistic in March

February 24, 2021

Business confidence in the manufacturing sector came in at 85.0 in March, up from February's 81.0. March's result marked the strongest sentiment since May 2014. As a result, the index moved closer to the 100-point threshold, but still indicated pessimism among businesses.

The uptick came amid better sentiment regarding overall demand for both domestic and export-oriented firms, as well as for sales and profitability, although all these subsectors remained in pessimistic territory. Notably, raw material and sales prices were two fields in which manufacturing firms were optimistic.

FocusEconomics Consensus Forecast panelists expect fixed investment to rise 3.8% in 2021, which is up 0.5 percentage points from last month’s forecast. In 2022, the panel expects fixed investment to grow 3.3%.


Author:, Junior Economist

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Korea Business Confidence March 2021

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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