Korea Business Confidence August 2019

Korea

Korea: Forward-looking business confidence falls in August

July 30, 2019

The Bank of Korea’s forward-looking business confidence indicator for manufacturers fell to 71 in August from 75 in July, while confidence in the non-manufacturing sector inched up to 75 in August from 74. Both readings remained entrenched below the crucial 100-point threshold separating pessimism from optimism.

The deterioration in business sentiment among Korean manufacturers was largely driven by their more pessimistic expectations for domestic demand, while they were also more downbeat about expected sales volumes and prices. On a more positive note, goods producers were less downtrodden about export prospects. Meanwhile, their assessment of future raw material prices was unchanged. Information about the drivers of non-manufacturing confidence are not available.

FocusEconomics Consensus Forecast panelists expect fixed investment to fall 2.2% in 2019, which is unchanged from last month’s forecast. In 2020, the panel expects fixed investment to grow 2.0%.


Author:, Economist

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Korea Business Confidence August 2019

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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