South Korea's business sentiment among manufacturers dipped for the fourth straight month in March, mainly due to a slump in the automobile and shipbuilding sectors.
Data by the Bank of Korea released Thursday shows its business sentiment index for the manufacturing sector dropped one-point from the previous month to 74 in March... the lowest level in two years and three months.
A reading below 100 means there are more pessimists than optimists on the local economy.
The bank attributes the drop to growing concerns over a global trade war sparked by U.S. trade protectionist measures.