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KOREAN MANUFACTURERS PREDICT BUSINESS SLUMP TO CONTINUE.
SEOUL, June 2 Asia Pulse - The majority of South Korean manufacturers expect the current business slump to stretch into the coming quarter, according to the results of a survey released Sunday.
The poll of 1,297 manufacturers, conducted by the Korea Chamber of Commerce and Industry, showed the business survey index (BSI) was recorded at 89 for the third quarter, down from 97 in the April-June period.
With the results of the survey, the business confidence index was tallied at below the benchmark 100 level for the third consecutive quarter. The BIS peaked at 133 in the second quarter of 2002 and has continued to drop.
A reading of below 100 means that companies predicting business conditions to worsen outnumber those firms expecting an improvement.
"The findings indicate the economy is sinking into a deeper slump despite the early end to the Iraqi war," the KCCI ...
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Source: HighBeam Research, KOREAN MANUFACTURERS PREDICT BUSINESS SLUMP TO CONTINUE.