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한경연 기업 경기 전망 전망 위기 위기 이후 이후 10 년 5 개월 만 에 최저
Business sentiment in the nation fell to their lowest point in more than a decade.
The prolonged U.S.-China trade war and Japan's export restrictions are being cited as reasons for pessimism.
Kim Da-mi help us look beyond the digits.
Local firms in South Korea have a grim outlook for the nation's economy in August.
That's according to the Korea Economic Research Institute's survey released on Tuesday.
The business survey index of the country's top six-hundred companies to just 80-point-7 for next month.
That's sharply down from 92-point-3 the month before.
It is also the lowest forecast since the aftermath of the global financial crisis in 2009.
For the past 15 months, the business index has been reduced to less than one hundred.
The index for the manufacturing sector was especially low at around 75.
The institute pointed to the weaker domestic demand for the economic slowdown and the prolonged U.S.-China trade war.
Japan's latest export curbs were another reason for the pessimistic outlook.
The institute noted that the Seoul-Tokyo trade dispute has created uncertainties in the local economy … and local firms are worried that the trade dispute may lead to lower production.
It also pointed to these summer holidays.
However, highlighting that the feeling is much lower than the previous months, … the institute says that the government needs to come up with policies to encourage companies to invest while responding to internal and external risks.
KIM Da-mi, Arirang News.
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