S Korea Sept Manufacturers' Outlook Index At 79 Vs 74 August
Wednesday August 27th, 2008 / 22h15
SEOUL -(Dow Jones)- South Korean manufacturers turned less pessimistic for the first time in four months in September after sinking to their gloomiest in three-and-a-half-years in the preceding month, according to a central bank survey released Thursday. "Many companies showed positive business outlook (for September) with (factories) actively start running operations in autumn after the holiday season," said an official at the central bank. The Bank of Korea Manufacturers' Outlook Index rose to 79 from 74 in August. The index was at 73 in February 2005. After adjustments for seasonal variations, however, the index slid to 78 from 80 the month before. A level below 100 indicates that a majority of respondents believe business conditions will worsen rather than improve. The index has been below 100 since January 2003. The subindex for larger companies climbed to 86 from 84 in August while that for small and medium-sized businesses increased to 75 from 69. The subindex for export-oriented companies edged up to 81 from 80, while that for domestic-oriented companies increased to 77 from 71. A separate index for non-manufacturing firms came in at 77 from 75, but after adjusting for seasonal variations, the index slid to 79 from 80. The central bank surveyed 2,929 companies between Aug. 18 and 22 and received 2,163 responses. -By Jung-Ah Lee, Dow Jones Newswires; 822-732-2165; jung-ah.lee@dowjones.com
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