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Korea Business Confidence January 2023

Korea: Manufacturing firms month-ahead business sentiment falls in January

Manufacturing firms month-ahead business sentiment fell to 68.0 in January from December’s 69.0. January’s result marked the worst performance since October 2020. As a result, the index move further below the 100-threshold, separating pessimism from optimism among manufacturing businesses.

Month-ahead business sentiment fell among export-oriented manufacturing firms, but remained stable among domestically-oriented manufacturing firms. The fall for export-oriented firms was likely related with the expected softening of foreign demand due to a weakening global economy.

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