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THE INVESTOR] A majority of South Korean companies forecast their business conditions to remain sluggish in January, a survey showed on Dec. 29.
The business survey index for January came to 89.9, according to the Federation of Korean Industries.
The reading marks a slight drop from 91.7 registered for this month.
A reading below 100 means pessimists outnumber optimists, while a reading above the benchmark means the opposite.
The index has remained below the benchmark for eight consecutive months since June, the FKI noted.
“The companies expressed concerns over a continued downturn amid a lack of any clear direction for the economy,” it said in a press release. “They believe external factors will also continue to adversely affect the country’s exports.”
A separate BSI on exports came to 95.5 for January, while the index on domestic consumption came to 96.
The monthly survey is conducted on the country’s top 600 firms.
(theinvestor@heraldcorp.com)