SEOUL (Reuters) – South Korean manufacturers’ business confidence tumbled to its lowest level in two years in October, a central bank survey showed on Thursday, with companies citing sharp rises in raw material prices and an uncertain economic outlook.
The seasonally adjusted business outlook index for manufacturers fell to 73 for October, down from 82 for September, according to the Bank of Korea.
The index for the non-manufacturers stood at 81 for October, unchanged from September.
A total of 3,255 companies, including 1,676 manufacturers, were polled nationwide from Sept. 14 to 21, the central bank said.
(Reporting by Jihoon Lee; Editing by Edwina Gibbs)
