A majority of South Korean manufacturers predicted business to remain sluggish even in the fourth quarter of this year following volatile external economic conditions during the July-September period, a poll showed Monday. The survey of 2,500 companies by the Korea Chamber of Commerce and Industry (KCCI) showed Business Survey Index (BSI) at 94 for the October-December period, down 3 points from 97 for the third quarter. The index gauges the manufacturers' forecast on their business conditions, and a reading below the benchmark 100 means pessimists outnumber optimists. The BSI has been below 100 since the third quarter of 2011. "Manufacturers remain jittery that a slowdown in the Chinese economy and the weaker Japanese yen may set back the recovery of the South Korean economy," the KCCI said. "The Fed hinting at tapering its bond-buying program is undermining the economy of emerging countries like India and Indonesia that have been playing a key role in the growth of the South Korean economy." Of the respondents, 30.3 percent said that cash shortages will be the biggest hurdle to their fourth-quarter business, with 22.5 percent citing possible changes in the won-dollar exchange rate as another reason for the gloomy business outlook. Most manufacturers forecast that the South Korean economy will turn for the better after the second half of 2014.
GMT 12:09 2018 Monday ,26 November
Black Friday less wild as more Americans turn to online dealsGMT 15:07 2018 Sunday ,18 November
Refugee host countries discuss UNRWA's financial crisisGMT 17:22 2018 Wednesday ,31 October
Russia climbed to 31st place in Doing Business-2019 ratingGMT 16:53 2018 Wednesday ,17 October
"Putin" We need for collective restoration of Syria's economyGMT 14:02 2018 Friday ,12 October
Govt to announce incentives package for Overseas PakistanisGMT 18:26 2018 Saturday ,06 October
Dubai attracts Dh17.7 billion in foreign direct investmentGMT 09:02 2018 Friday ,21 September
Economy of Georgia demonstrates "strong signs of recovery"GMT 09:03 2018 Wednesday ,24 January
German investor confidence surges in JanuaryMaintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©
Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©
Send your comments
Your comment as a visitor