Business sentiment for February remains pessimistic: poll

SEOUL, South Korea's business sentiment remained pessimistic for February over prolonged concerns over a slowdown of the global economy, a poll showed Tuesday. The business survey index (BSI) for the country's top 600 companies by sales stood at 92.3 for February, up 1.2 points from this month, according to the monthly poll by the Federation of Korean Industries (FKI). A reading below 100 means pessimists outnumber optimists, while a figure above the benchmark means the opposite. The index has remained below 100 for 23 consecutive months. The BSI for the manufacturing industry came to 91.7 for November, with the index for the nonmanufacturing sector reaching 92.9. The FKI, the lobby for the country's family-controlled conglomerates, attributed the weak February reading to sluggish sales due to the weak economy and manufacturers' growing inventories, which led to financial difficulties. "Financial support measures are needed for industries facing financial difficulties," an FKI official said. "Active eff orts are needed to boost domestic spending and exports for the revitalization of the country's economy." Source: Yonhap News Agency