Retail in Asia

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S Korea manufacturers’ confidence at 2-year low

Business sentiment among South Korean manufacturers about the coming quarter slid to its lowest level in more than two years and could later fall further, an industry survey found on Sunday.

The business survey index compiled by the Korea Chamber of Commerce and Industry dropped to 103 for the July-September quarter, versus 108 for the second quarter, marking the lowest point since hitting 66 in the second quarter of 2009.

The latest reading indicated a fifth consecutive quarterly drop. It also showed differences in sentiment between large conglomerates, who were more optimistic, and small- and medium-sized firms. Smaller firms represented 91 percent of the 1,374 respondents surveyed between 16 May and 3 June.

(Source: CNBC)