South Korean Manufacturers’ Confidence Drops to a One-Year Low

Confidence among South Korean manufacturers fell to a one-year low in July on concern rising oil prices and labor strikes may erode profits and hurt production, the central bank said.

“Rising oil, global interest rate increases are downside risk factors for the South Korean economy,” said Lee Sang Jae, an economist at Hyundai Securities Co. in Seoul. “Those factors damp confidence among companies, which doesn’t bode well for the economy.”
Bloomberg