By Seyoon Kim
Nov. 26 (Bloomberg) -- South Korean manufacturers’ confidence slipped to the lowest level in four months due to uncertainty about the outlook for domestic demand.
An index measuring expectations for December fell to 85 from 93 a month earlier, according to a survey of 1,475 manufacturers released by the Bank of Korea today in Seoul. A measure of non-manufacturing companies’ expectations was unchanged at 84.
Consumer confidence fell in November for the first time in eight months on concern about the sustainability of the economic recovery. The benchmark Kospi stock index has declined 3.7 percent since October and the won gained 2.3 percent in the same period against the dollar. Finance Minister Yoon Jeung Hyun said yesterday the currency’s gain may hurt corporate profitability.
Asia’s fourth-largest economy expanded 2.9 percent in the third quarter, the fastest pace in seven years, as South Korea led a regional rebound with China and Singapore. Samsung Electronics Co. and Hyundai Motor Co., among the nation’s largest exporters, reported higher earnings in the quarter.
Today’s report showed an index measuring the outlook for exports dropped to 98 from 102 a month ago, and a gauge for domestic sales in December fell to 98 from 101.
The Bank of Korea surveyed the manufacturers and 801 non- manufacturers between Nov. 13 and Nov. 20.
To contact the reporter on this story: Seyoon Kim in Seoul at skim7@bloomberg.net
Posts
No comments:
Post a Comment