South Korea business outlook for May slides to record low on virus impact

  • Economy
  • Wednesday, 29 Apr 2020

The International Monetary Fund (IMF) sees South Korea's economy contracting by 1.2% for thr whole of this year. - ruters

SEOUL: South Korea's businesses confidence index slumped to the worst on record as the coronavirus pandemic put countries into lockdown, battering economic and social activities, a central bank survey showed.

The manufacturing BSI for May tumbled to a seasonally adjusted 45 from 52 for April, the Bank of Korea data published on Wednesday showed, the lowest reading of all time since the data was compiled in February 2003.

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