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Korea Business Confidence November 2023

Korea: Manufacturers expect business conditions to improve slightly in November

Business conditions in the manufacturing sector are expected to improve in November versus October, according to a survey of manufacturers conducted in October by the statistical office; the sentiment index is expected to rise to 69.0 from 67.0. However, the reading remained entrenched below the 100-threshold, indicating pessimism among manufacturers.

The rise was driven by improving sentiment among export-orientated manufacturers, who were less pessimistic than domestic-orientated manufacturers for the first time since February. The improvement may be connected with the annual rise in exports seen in October—the first for 13 months.

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