Korea Business Confidence February 2021

Korea

Korea: Business confidence rises but remains pessimistic in February

January 28, 2021

Business confidence among manufacturing firms came in at 81.0 in February, up from January's 77.0 and returning to December’s level. Consequently, the index moved closer to the 100-point threshold, but still indicated pessimism among businesses.

The rebound was mainly led by improved sentiment in domestic demand-oriented manufacturing firms, and to a lesser extent in export-oriented firms. The uptick was felt across all components, with firms’ views on profitability becoming less downbeat and greater optimism regarding raw material prices. Moreover, expectations on sales prices turned positive. Sentiment among non-manufacturing firms also improved in February.

FocusEconomics Consensus Forecast panelists expect fixed investment to rise 3.3% in 2021, which is up 0.7 percentage points from last month’s forecast. In 2022, the panel expects fixed investment to grow 3.1%.


Author:, Junior Economist

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Korea Business Confidence February 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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