The Korea Herald

피터빈트

Manufacturing sentiment drops for 5th month in August: poll

By Yonhap

Published : Aug. 23, 2021 - 11:25

    • Link copied

(Yonhap) (Yonhap)
South Korean manufacturers' business confidence fell for the fifth consecutive month in August due to the economic fallout from the prolonged virus pandemic, a poll showed Monday.

The country's professional survey index (PSI) for the manufacturing sector's business conditions came to 109 this month, down from 114 in July, according to the poll carried out by the Korea Institute for Industrial Economics & Trade (KIET).

A PSI reading above 100 means optimists outnumber pessimists. The survey on 186 experts in major industries was taken from Aug. 10-16.

The PSI for domestic demand stood at 110 in August, with that for exports standing at 120.

By sector, the index for the mainstay chip industry stayed above 100 to reach 138 in August, while that of the automobile business tumbled to 97. Pessimists outnumbered optimists in the chemical and textile industries as well.

The manufacturers' business outlook for September, meanwhile, was estimated at 116, the data also showed. (Yonhap)