Korea: Forward-looking manufacturing business confidence falls to the lowest level in 11 years in March
The Bank of Korea’s forward-looking business confidence indicator for manufacturers decreased to 54 in April from 69 in March, marking the lowest result since March 2009. Meanwhile, confidence in the non-manufacturing sector dropped to 52 in April from 68 in the month prior. Therefore, both readings remained entrenched below the 100-threshold separating pessimism from optimism.
The deterioration in business sentiment among manufacturers was led by more pessimistic views about current sales and profitability. The Bank does not collect information about the drivers of sentiment among non-manufacturing firms.