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Manufacturers’ confidence for April hits 23-month high

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Published : 2014-03-28 21:25
Updated : 2014-03-28 21:25

Business sentiment among South Korean manufacturers rose to its highest in 23 months for April as the local economy continued on a recovery track, but it still remains weak, the central bank said Friday.

The index, which gauges manufacturers’ outlook on business conditions for the coming month, reached 86 for April, up from 85 recorded for March, according to a monthly survey by the Bank of Korea.

The April numbers marked the highest since the index hit 90 for May 2012, it added.

A reading below the benchmark of 100 means there are more pessimists than optimists. The index is based on a nationwide survey of 2,562 companies conducted from March 14-21.

The index gauging manufacturers’ assessment of current business conditions came in at 81 in March, up from 78 the previous month and the highest in five months, it said. (Yonhap)

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