Korea Business Confidence October 2020


Korea: Business confidence steady in October

September 29, 2020

Business confidence in the manufacturing sector was unchanged at September's 68.0 in October. October’s result was the joint highest since March. However, the index remained well below the neutral 100-point threshold, suggesting pessimism among businesses.

Looking at subsectors, expectations regarding sales deteriorated, while expectations concerning raw material prices improved somewhat. Sentiment among export-oriented manufacturing firms edged up, while sentiment among domestic firms was unchanged.

FocusEconomics Consensus Forecast panelists expect fixed investment to fall 1.9% in 2020, which is up 0.4 percentage points from last month’s forecast. In 2021, the panel expects fixed investment to grow 2.6%, which is down 0.1 percentage points from the previous month’s forecast.

Author:, Junior Economist

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Korea Business Confidence Chart

Korea Business Confidence October 20 20 0

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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