South Korea's manufacturing confidence posted 61 for the first quarter of 2009, hitting the lowest level ever amid concerns over a worldwide economic slump, a government poll showed Tuesday.
According to the Ministry of Knowledge Economy, the figure is down from a forecast of 78 in the fourth quarter of 2008 and also the lowest since the government started conducting the survey in the second quarter of 2001.
"Numbers fell across the board in terms of sales, domestic consumption, exports and profits," said a government official " adding that of the 12 separate manufacturing industries checked, only those for semiconductors edged up from 57 expected for the fourth quarter to 60 in the first quarter of next year.
The ministry said that a continuous drop in BSI numbers reflect growing concerns among manufacturers that the South Korean economy will do even worse in 2009 compared to this year
The BSI index had fallen under 100 for three consecutive quarters since the third quarter of this year.
A reading below 100 means that pessimists outnumber optimists among those surveyed.
Source: Xinhua
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