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South Korea Feb manufacturing outlook steady from Jan
January 27, 2014 / 9:01 PM / in 4 years

South Korea Feb manufacturing outlook steady from Jan

SEOUL, Jan 28 (Reuters) - Sentiment among South Korean manufacturers was unchanged in February from a month earlier, data showed on Tuesday, as the country sticks to a slow but steady recovery.

The Bank of Korea’s manufacturing business survey index for February remained at a seasonally adjusted 84, the same level as the month before.

A reading below 100 indicates that the number of companies expecting deterioration in business conditions for the coming month outnumber those seeing improvement.

Although the index has stayed below 100 since February 2011, it rose steadily last year as policymakers forecast improving export conditions as demand from advanced countries gained momentum.

The biggest concern for manufacturers was weak domestic demand, unchanged from the previous month’s survey, with economic uncertainties following in second.

The central bank said the survey was conducted from Jan. 14 to 21, collecting responses from more than 1,500 manufacturers from 23 major industries nationwide. (Reporting by Christine Kim; Editing by Kim Coghill)

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