Business sentiment of South Korean manufacturers at 2-year low

The central bank said Wednesday that South Korean business sentiment fell to its lowest level in more than two years in December amid growing economic uncertainty and persistently high inflation.

The manufacturing business outlook index fell to 70 in December from 75 in November. This is the lowest level since October 2020.

Manufacturers cited economic uncertainty as the biggest difficulty. This was followed by higher raw material prices and weak domestic demand.

The non-manufacturing index also fell in December to 76 from 77 in November, its lowest level since March 2021.

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