S. Korean manufacturers upbeat about Q4

By Nam Kwang-sik

SEOUL, Aug. 27 (Yonhap) -- Most South Korean manufacturers expect their business will continue along an upward trend in the fourth quarter due to financial stability and improved consumer sentiment, a poll showed Thursday.

The manufacturing business survey index, tallied by the Korean Chamber of
Commerce and Industry (KCCI), hit 112 for the October-December period, up from
110 for the previous quarter.
A reading over 100 means optimists outnumber pessimists. The index has now
registered above the benchmark for two straight quarters. The KCCI conducted the
most recent poll, surveying 1,564 companies, in early August.
"Local financial markets are showing signs of recovery as foreign exchange rates
have stabilized and the stock market gains ground," the chamber said in a
statement. "Improved consumer sentiment also led companies to a more positive
outlook of their fourth-quarter business."
The South Korean currency has been hovering near the mid 1,200-won mark against
the U.S. dollar, after falling below the 1,300-won mark against the greenback in
May for the first time since October 2008.
The benchmark Korea Composite Stock Price Index breached 1,600 this week, the
highest level since July 24, 2008, when it recorded 1,626.14.
On Wednesday, the Bank of Korea said consumer confidence for August climbed to
the highest level in more than seven years on expectations of an economic
recovery.
The consumer survey index -- a gauge of consumers' overall economic outlook,
living conditions and future spending -- rose to 114 in August, the bank said,
compared with 109 the previous month.
ksnam@yna.co.kr
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