Manufacturing sentiment dips to 30-month low in Nov.: poll
SEOUL, Oct. 23 (Yonhap) -- South Korea's manufacturing confidence dropped to a 2 1/2-year low in November amid deepening concerns over a global economic downturn, a poll showed Sunday.
The professional survey index (PSI) for the manufacturing sector's business conditions came to 70 for next month, sharply down from 91 for this month, according to the Korea Institute for Industrial Economics & Trade (KIET).
It marked the lowest level since May 2020, when the figure came to 75. Most sectors saw the index stay below 100, including chips, display, and auto fields, according to the survey.
A PSI reading above 100 means optimists outnumber pessimists. The survey was conducted earlier this month on 168 experts in major industries.
The PSI for domestic demand next month came to 82, marking the on-month decline for a second straight month.
The figure for exports also fell for a second consecutive month to come to 82 for November, the survey showed.
South Korea has experienced economic headwinds and market instability in recent months amid aggressive monetary tightening by the United States and other major nations to tame high inflation and the prolonged war between Ukraine and Russia.
Electronic signboards at a Hana Bank dealing room in Seoul show the benchmark Korea Composite Stock Price Index (KOSPI) closed at 2,213.12 points on Oct. 21, 2022, down 0.22 percent from the previous session's close. (Yonhap)
graceoh@yna.co.kr
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