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Seoul: Korean manufacturing confidence up

Korean manufacturing confidence for September improved for the second month, but more than half of the nation's manufacturers were pessimistic about business conditions the following month (ie October), the central bank said Thursday, according to Yonhap News Agency.

According to the Bank of Korea, the business survey index (BSI) for manufacturers advanced to 95 for September from 89 of August. A reading below 100 means pessimists outnumbers optimists.

The September BSI was the highest since reaching 97 in April last year.

"Business confidence among large corporations, smaller firms, exporters and companies targeting the domestic market all improved from a month earlier," the central bank said in a statement.

The index for large companies went up from 98 in August to 103 for September. The BSI for September rose above the 100-level mark for the first time in one and a half years, meaning optimists outnumber pessimists.

- By Business Desk

The Korea Herald

Publication Date: 30-08-2007

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Seoul: Korean manufacturing confidence up

Korean manufacturing confidence for September improved for the second month, but more than half of the nation's manufacturers were pessimistic about business conditions the following month (ie October), the central bank said Thursday, according to Yonhap News Agency.

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