South Korean manufacturers’ confidence improved in November to reach an annual high amid strong demand for flagship items such as electronics and automobiles at home and abroad.

The business sentiment index for manufacturers stood at 85 in November, up 6 points from the previous month, the Bank of Korea (BOK) said Wednesday.

The November reading was the best this year and even better than before the coronavirus outbreak.

The business outlook for December also rose 5 points on month to 81.

A reading of over 100 means more companies are optimistic about the economy, while a reading below 100 means there are more pessimists.

The BOK credited the rise to increased demand for home appliances, strong exports of semiconductors and brisk sales of auto parts.

The economic sentiment index for November also rose 3.2 points to 89.1. The seasonally adjusted index was 85.3, up 4.0 points versus October.

By Kim Hyo-jin

[ⓒ Pulse by Maeil Business Newspaper & mk.co.kr, All rights reserved]