Korean businesses are bracing for difficult times in the second half of this year, showed a report on the world’s high income, leading market economies on Tuesday.
The business confidence index by the Organization for Economic Cooperation and Development showed Korea’s numbers standing at 96.2, the fourth lowest among the 23 countries checked.
An index reading below the benchmark 100 mark means pessimists outnumber optimists.
The BSI tallied in December by the Paris-based organization also showed Turkey having the lowest number for the July-December period, followed by Greece and Portugal.
The OECD’s estimate showed that Germany has the highest BSI for the six-month period at 102.2, with Denmark, Austria, Japan and the United States posting index numbers exceeding 100.
“South Korea’s BSI has declined steadily since April 2010, and stayed under the 100 mark after August when it stood at 102.2,” a local source said. He said the weak numbers reflect concerns that Asia’s fourth largest economy may be hurt by the persistent economic woes caused by the eurozone crisis and other negative developments.
The OECD also said South Korea’s consumer confidence index was the second highest among countries reviewed for December.
It said the index reached 99.8 in the cited month, which only trails Germany’s number of 101.9.
Korea’s CCI has hovered in the 99-100 range in the past few months. Of all countries checked, Spain, Australia and Belgium made the top five with the Czech Republic at the bottom with a CCI of 91.7.
(Yonhap News)
