Korea: Forward-looking manufacturing business confidence falls further in May
The Bank of Korea’s forward-looking business confidence indicator for manufacturers decreased to 50 in May from 54 in April, marking the lowest result since March 2009. Meanwhile, confidence in the non-manufacturing sector dropped to 47 in May from 52 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.