April 26, 2024
Retail & Consumer
Business survey index for food services
[THE INVESTOR] A government report showed on Feb. 10 taht the country's food service industry will continue to suffer this year due to weak consumption.
The business survey index for the industry declined to 65.04 for the fourth quarter last year. It was 67.51 three months earlier, the Food Ministry and Korea Agro-Fisheries and Food Trade Corp. said.
The index measures the industry's performance during a three-month period compared to the previous three months. Below 100 means contraction in business.
The industry will continue to suffer setbacks in the current quarter due to slow consumption, the ongoing presidential scandal, the newly enacted anti-graft law and a rise in egg prices due to bird flu, among other factors, the report said.
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