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S.KOREAN MANUFACTURERS HOLD NEGATIVE OUTLOOK FOR DEC.
SEOUL, Dec 1 Asia Pulse - Most manufacturers in South Korea are pessimistic about their business conditions in December because of currency concerns and sagging domestic demand, a central bank survey showed Wednesday.
Manufacturers' confidence in performances in November also remained sluggish, as the Korean won rose fast against the U.S. dollar, sparking jitters among exporters.
According to the Bank of Korea's poll of 1,480 manufacturing companies, the business survey index (BSI) fell to 73 in December from 74 last month.
The index measures manufacturers' expectations for business activity in December. A reading below 100 means the pessimists outnumber optimists.
The expectation index was 73 in November, up from 72 in October but far below the benchmark 100.
"Despite falls in oil prices, manufacturing confidence was low due to currency concerns and weak domestic demand," the report said.
The local currency rose 9.4 per cent against the greenback from Oct. 19 to Nov. 27, marking a faster rise than the yen and the euro and threatening exports, or the main driver of the economy.
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