(Reuters) - South Korean manufacturers are significantly more pessimistic about the business outlook for September than they were for August, central bank data showed on Friday, mirroring the fragility of the recovery in Asia's fourth-largest economy.
The Bank of Korea's manufacturing business survey index for September dropped to a seasonally adjusted 75 - the lowest level in more than a year - from 80 for August, which was a 4-month high. September's index was the lowest since a reading of 74 in May 2013.
An index reading below 100 indicates companies who expect business conditions to deteriorate in the following month outnumber those seeing improvement. The index has remained below 100 since January 2011, when it hit 101.
Small to medium-sized businesses had the worst outlook for future business conditions, as their outlook in non-adjusted terms slipped to 68 for September from 71 in August.
Survey respondents pointed to poor domestic demand as their biggest worry, while a larger percentage of companies said lack of funds and uncertain economic conditions were likely to hinder their businsses compared to during August.
The central bank survey results come just a few hours ahead of South Korea's July factory output data, which analysts in a Reuters poll have tipped to have grown a seasonally adjusted 0.3 percent from June.
reuters.com
The Bank of Korea's manufacturing business survey index for September dropped to a seasonally adjusted 75 - the lowest level in more than a year - from 80 for August, which was a 4-month high. September's index was the lowest since a reading of 74 in May 2013.
An index reading below 100 indicates companies who expect business conditions to deteriorate in the following month outnumber those seeing improvement. The index has remained below 100 since January 2011, when it hit 101.
Small to medium-sized businesses had the worst outlook for future business conditions, as their outlook in non-adjusted terms slipped to 68 for September from 71 in August.
Survey respondents pointed to poor domestic demand as their biggest worry, while a larger percentage of companies said lack of funds and uncertain economic conditions were likely to hinder their businsses compared to during August.
The central bank survey results come just a few hours ahead of South Korea's July factory output data, which analysts in a Reuters poll have tipped to have grown a seasonally adjusted 0.3 percent from June.
reuters.com
No comments:
Post a Comment