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KOREA'S MANUFACTURING BUSINESS TO WORSEN IN Q1 OF 2004: SURVEY.
SEOUL, Dec 1 Asia Pulse - The business sentiment in South Korea's manufacturing sector is forecast to further deteriorate in the first quarter of next year, the fifth straight quarter-to-quarter contraction, a leading business survey indicated.
According to the Korea Chamber of Commerce and Industry's Business Survey Index (BSI), which polled 1,307 major manufacturing firms across the nation, the figure for the January-March quarter inched down to 89 from 90 in the previous quarter.
Merely 22.1 per cent, or 289, of the polled companies, said business would improve in the coming quarter, while 32.7 per cent forecast further deterioration.
Weighed down by swelling household debts, sluggish consumption, financial market instability and labor disputes, the BSI has retreated for five quarters in a row since the first quarter of 2003, when the figure fell to 88 from the previous quarter's 111.
The leading index briefly recovered to 97 in the second quarter before sliding to 89 in the third quarter and 90 in the fourth quarter.
A BSI reading of below 100 indicates that more than half of businesspeople surveyed are pessimistic about future sales, with lower figures suggesting weaker sales forecasts.
The performance-based BSI for the fourth ...
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