33 Months of Corporate Economic Outlook 'Dark Cloud'...the longest ever

The economic outlook of domestic companies has been negative for 33 consecutive months, the survey showed.

The business survey of the 600 largest companies by sales by the Korea Federation of Businesses showed a December forecast of 97.3.

If the index is higher than the benchmark 100, it means that the outlook for the economy is positive compared to the previous month, and if it is lower than 100, it means that the outlook for the economy is negative compared to the previous month.

The 33rd consecutive month of sluggish economic sentiment is the same record from June 2018 to February 2021, the longest ever since the survey began in 1975.

By industry, only automobiles and other transportation equipment were expected to be strong in the manufacturing industry, while information and communication and construction industries were expected to deteriorate in the non-manufacturing industry.

The Federation of Korean Industries said 12 of the country's 17 industries are in a state of declining operating profits in the third quarter of this year, adding that companies appear to be facing limits due to deteriorating business performance.