Manufacturing sentiment drops for 3rd month in June: poll

SEOUL, June 23 (Yonhap) -- South Korea's manufacturing confidence fell for the third straight month in June amid the prolonged coronavirus pandemic, a poll showed Wednesday.

The Korea Institute for Industrial Economics & Trade (KIET) said its professional survey index (PSI) for the manufacturing sector's business conditions came to 123 for this month, down from 127 the previous month.

Yet the country's PSI remained above the benchmark 100 for 13 months running since June last year.

A PSI reading above 100 means optimists outnumber pessimists. The survey on 188 experts in major industries was taken between June 10 and last Wednesday.

The PSI for domestic demand amounted to 119 in June, with that for exports standing at 130.

Excluding the chemicals industry, the index for chip, auto, shipbuilding, machinery, textile and other major industries stayed above par, the state-run think tank said.

The PSI for manufacturers' business outlook for July came in at 130, down from 133 for the previous month, according to the survey.

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