South Korean manufacturers were less upbeat about their business outlook for the third quarter than in the previous quarter after April‘s deadly ferry sinking slowed down domestic consumption, a poll showed Sunday.
According to the poll of 2,473 companies by the Korea Chamber of Commerce and Industry, the Business Survey Index for the July-September period was tallied at 103, down 8 points from 111 in the second quarter.
A gauge of corporate expectations on economic conditions, BSI index above the benchmark 100 means optimists outnumber pessimists.
“Overall consumer sentiment has been dented after the Sewol ferry sinking,” a KCCI official said,
The companies polled cited a slowdown in domestic demands and exports as the biggest hurdles for their businesses in the third quarter, trailed by cash shortages, volatile currency and labor shortage. (Yonhap)
