© Reuters. FILE PHOTO: Workers work at a bio plant manufacturing unit of Hanmi Pharm in Pyeongtaek, South Korea, July 1, 2021. Image taken July 1, 2021. REUTERS/Heo Ran
SEOUL (Reuters) – South Korean producers’ enterprise sentiment for December dropped to a greater than two-year low, a central financial institution survey confirmed on Wednesday, amid rising financial uncertainties and persistently excessive inflation.
The enterprise outlook index for the manufacturing sector fell to 70 for December on a seasonally adjusted foundation from 75 for November, in keeping with the Financial institution of Korea’s month-to-month survey of corporations. It was the bottom degree since October 2020.
Within the survey, producers cited financial uncertainty as the most important problem, accounting for 22.7% of complete responses, adopted by rising uncooked materials costs (18.5%) and weak home demand (11.4%).
The index for non-manufacturers additionally inched right down to 76 for December, from 77 for November, hitting the bottom since March 2021.