SoKor Manufacturing Sentiment Sags To 22-Month Low: Poll

South Korea's manufacturing confidence dropped to a 22-month low in March amid high energy prices and the ongoing Ukraine crisis, a poll showed Sunday, Yonhap News Agency reported.

Photo Insert: Busan Port, South Korea

The professional survey index (PSI) for the manufacturing sector's business conditions came to 87 for this month, down from the previous month's 96, according to the Korea Institute for Industrial Economics & Trade (KIET).

It marked the lowest level since May 2020, when the figure came to 75, and the first on-month drop in three months. A PSI reading above 100 means optimists outnumber pessimists. The survey was taken on about 180 experts in major industries.

The PSI for domestic demand came to 101 in March, and the figure for exports stood at 100. The index for the chip, display, and auto sectors was below 100, while the steel and bio industries saw the index stay above par, the survey showed.

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