Manufacturers' Q4 biz outlook still gloomy: poll

SEOUL, Oct. 5 (Yonhap) -- South Korea's major manufacturers are more pessimistic about business conditions for the fourth quarter of this year due to China's slowing growth and a potential interest rate hike in the U.S., a poll showed Monday.

The Korea Chamber of Commerce & Industry (KCCI) said its business survey index (BSI) for the October-December period came to 87, down from 88 tallied in the third quarter. The index dropped for the third quarter, falling from 97 the previous quarter, amid the fallout of the Middle East Respiratory Syndrome (MERS) outbreak.

The result is based on a survey of 2,300 manufacturing companies nationwide. A reading of under 100 means pessimists outnumber optimists.

"The slide in the BSI is showing signs of easing, but a majority of the surveyed firms are still expecting a worsening economic condition," said an official at the KCCI. The fallout of a potential slowdown in the Chinese economy and the growing chance of a much-awaited rate hike in the U.S. were cited as their major concerns.

According to the KCCI survey, the subindex for exporters came to 89 for the fourth quarter, down from 91 in the third quarter, while the comparable figure for domestically focused peers was 87 for the fourth quarter, unchanged from the previous quarter, the survey showed.

The figure for big businesses stood at 76, compared with 88 for small and medium enterprises, it showed.

sam@yna.co.kr
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