Yesterday we had data on South Korea's shrinking economy:
This morning we've had more worrying data, February Bank of Korea survey findings:
- Manufacturing business outlook index at s/adj 66 vs 71 for January
- Non-manufacturing business outlook index at s/adj 72 vs 76 for January
- Manufacturing business outlook index at lowest since October 2020
- Non-manufacturing business outlook index at lowest since December 2020
- 26.5% of manufacturing firms cited uncertain economic conditions as a major difficulty, up from 22.0% a month before
- second biggest increase in worry was centred on weak domestic demand, with 12.4% firms citing it, up from 10.8%
---
South Korea is often viewed as a bellwether for the global economy, which gives these indicators wider applicability than just SK.
