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SOUTH KOREAN BUSINESS SENTIMENT BLEAK FOR FEBRUARY.
SEOUL, Feb. 1 Asia Pulse - A majority of South Korean manufacturers are pessimistic about their business in February due to a firmer currency and anemic domestic demand, the central bank said Thursday.
The Bank of Korea said in a monthly poll that its business survey index (BSI) for manufacturers stood at 83 for February, unchanged from January. The index, a key measure of business confidence, was 92 in November, a six-month high.
A reading below 100 means that pessimists outnumber optimists. The survey of 2,472 companies nationwide was conducted on Jan. 17-24.
"Despite the upcoming Lunar New Year holiday that falls in mid-February, manufacturing sentiment remains weak due to sluggish consumer spending and the won's strength against the U.S. dollar," said Lim Kun-tae, a central bank official.
South Korean consumer spending is expected to grow 3.9 per cent this year, down from a 4.2 per cent advance last ...
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Source: HighBeam Research, SOUTH KOREAN BUSINESS SENTIMENT BLEAK FOR FEBRUARY.