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E-mail Xinhua, February 28, 2013
Business confidence among South Korean manufacturers showed mixed picture as big exporters were more concerned about the negative side effects from the South Korean currency's appreciation against the U.S. dollar, central bank data showed Thursday.
The February reading of business survey index (BSI) for big manufacturers fell 2 points from a month earlier to 72, according to the Bank of Korea (BOK). The figure for exporters slid 1 point to 71.
The fall came amid the won's ascent against the greenback and the Japanese yen, which was feared to dent the profitability of export-dependent large manufacturers.
The reading for small- and mi-sized enterprises (SMEs) rose 3 points to 69 in February, with the one for domestic demand-focused companies gaining 2 points to 71.
The results indicated that smaller firms driven mainly by domestic demand may benefit from improved purchasing power of consumers amid the strong won.
The March reading, which reflects outlook on business conditions for the upcoming month, increased for all four categories as expectations for fiscal stimulus mounted after the new administration under President Park Geun-hye took office on Feb. 25.
The February BSI among non-manufacturers declined 3 points to 65, while the reading for March fell 1 point to 69. The seasonally- adjusted figure for February and March slid by 2 points and 4 points each.
The BSI was based on survey responses from 1,500 manufacturers and 1,042 non-manufacturers conducted by the BOK between Feb. 14 and 21. Endi
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