Bloomberg News

South Korean Manufacturer Confidence Declines to 21-Month Low

August 29, 2011

Aug. 30 (Bloomberg) -- South Korean manufacturers’ confidence fell to a 21-month low as concerns over Europe’s debt crisis and a faltering U.S. recovery roiled financial markets and damped the outlook for exports.

An index measuring expectations for September dropped to 86 from 91 for August, the Bank of Korea said in a statement in Seoul today. That’s the lowest level since December 2009. A measure of expectations at non-manufacturing companies was unchanged from August at 83.

The survey, conducted from Aug. 16 to Aug. 23, was based on responses from 1,643 manufacturers and 898 non-manufacturers.

--Editors: Nerys Avery, Sunil Jagtiani

To contact the reporters on this story: Eunkyung Seo in Seoul at eseo3@bloomberg.net

To contact the editor responsible for this story: Paul Panckhurst at ppanckhurst@bloomberg.net


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