ID :
197209
Tue, 07/26/2011 - 08:54
Auther :
Shortlink :
https://oananews.org//node/197209
The shortlink copeid
S. Korea's business sentiment falls for Aug.
SEOUL, July 26 (Yonhap) -- South Korea's business sentiment for August dipped from a month ago due to growing uncertainties sparked by the unfolding financial crisis in Europe and domestic inflationary concerns, a poll showed Tuesday.
The monthly business survey index (BSI) for the upcoming month came in at 98.9 down from 101.3 forecast for July, according to the survey by the Federation of Korean Industries (FKI), the lobbying group of the country's large businesses.
The figure marks the first time in four months that BSI numbers fell below the break-even 100 mark. It is also the lowest number predicted in the first half after the index fell to 98.0 in February.
A BSI reading below 100 means pessimists outnumber optimists. The poll was conducted on the country's 600 largest businesses in terms of sales.
The FKI attributed the weak number to concerns triggered by the European financial crisis and mounting U.S. national debt. It added that a steady rise in South Korea's household debts, inflationary pressure and unfavorable foreign exchange rates combined to crimp business sentiment.
By sector, the BSI for the service field reached 102.2, although the index for manufacturing stood at 96.6.
The survey showed BSI readings for autos and other transportation related equipment stood at 88.9, with the index for refined petroleum and chemicals reaching 89.6.
Despite the overall weakness, optimists marginally outnumbered pessimists in regards to exports, business investments, employment and domestic market conditions, according to the poll.
The monthly business survey index (BSI) for the upcoming month came in at 98.9 down from 101.3 forecast for July, according to the survey by the Federation of Korean Industries (FKI), the lobbying group of the country's large businesses.
The figure marks the first time in four months that BSI numbers fell below the break-even 100 mark. It is also the lowest number predicted in the first half after the index fell to 98.0 in February.
A BSI reading below 100 means pessimists outnumber optimists. The poll was conducted on the country's 600 largest businesses in terms of sales.
The FKI attributed the weak number to concerns triggered by the European financial crisis and mounting U.S. national debt. It added that a steady rise in South Korea's household debts, inflationary pressure and unfavorable foreign exchange rates combined to crimp business sentiment.
By sector, the BSI for the service field reached 102.2, although the index for manufacturing stood at 96.6.
The survey showed BSI readings for autos and other transportation related equipment stood at 88.9, with the index for refined petroleum and chemicals reaching 89.6.
Despite the overall weakness, optimists marginally outnumbered pessimists in regards to exports, business investments, employment and domestic market conditions, according to the poll.
