Domestic firms are heavily pessimistic in their business outlook for next month. 

The Federation of Korean Industries revealed on Tuesday that its business survey index(BSI) for the month of November among the top 600 companies in terms of sales came in at 86-point-seven, the lowest in 25 months since late 2020.

The figure, standing below 100 for the eighth straight month since April, indicates that pessimists outnumber optimists.

The BSI for manufacturing posted 84 while non-manufacturing sectors registered 89-point-seven, both remaining below 100 for the sixth consecutive month for the first time since October 2020.

Amid the grim outlook fueled by global recession fears, the federation forecasts slower growth in outbound shipments.