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

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.