ID :
27585
Thu, 10/30/2008 - 22:03
Auther :
Shortlink :
https://www.oananews.org//node/27585
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S. Korean firms downbeat about November business
By Nam Kwang-sik
SEOUL, Oct. 30 (Yonhap) -- South Korea's major companies predict their business
conditions to deteriorate in November as a global economic downturn is weighing
on domestic demand and exports, a poll showed Thursday.
In a survey of 600 South Korean companies taken by the Federation of Korean
Industries (FKI), the monthly business survey index, the country's barometer for
corporate business sentiment, stood at 63.7 for November, down from 84.9 in
October.
A reading below 100 means that pessimists outnumber optimists.
"The gloomy outlook stemmed from the global financial turmoil and fears that
local domestic demand and exports would get worse due to the fallout of a global
recession," said the FKI in a statement.
The business lobby group called on the government to boost the domestic market by
increasing spending and making further tax cuts.
SEOUL, Oct. 30 (Yonhap) -- South Korea's major companies predict their business
conditions to deteriorate in November as a global economic downturn is weighing
on domestic demand and exports, a poll showed Thursday.
In a survey of 600 South Korean companies taken by the Federation of Korean
Industries (FKI), the monthly business survey index, the country's barometer for
corporate business sentiment, stood at 63.7 for November, down from 84.9 in
October.
A reading below 100 means that pessimists outnumber optimists.
"The gloomy outlook stemmed from the global financial turmoil and fears that
local domestic demand and exports would get worse due to the fallout of a global
recession," said the FKI in a statement.
The business lobby group called on the government to boost the domestic market by
increasing spending and making further tax cuts.
