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S.Korea April manufacturing outlook falls to 7-mth low
March 27, 2014 / 9:01 PM / 3 years ago

S.Korea April manufacturing outlook falls to 7-mth low

SEOUL, March 28 (Reuters) - South Korean manufacturers’ assessment of business conditions weakened for a second month, a central bank survey showed on Friday, underscoring flagging momentum in the sector as the economy struggles to get back on its feet.

The Bank of Korea’s manufacturing business survey index for April slipped to 80 from 82 for March, which was the lowest since the outlook for September last year.

The index has remained below the neutral point of 100 since reaching 101 in January 2011, which indicates companies that expect business conditions to deteriorate outnumber those which see improvement.

Survey respondents highlighted poor domestic demand and uncertain economic conditions as the biggest problems for future business.

The results come just before South Korea releases February industrial output figures, which analysts have tipped to fall by 0.1 percent on monthly terms.

Despite some sluggishness in the beginning of the year, the Bank of Korea forecasts Asia’s fourth-largest economy will expand by 3.8 percent this year, after having grown a revised 3.0 percent in 2013. (Reporting by Christine Kim; Editing by Eric Meijer)

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