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By
Reuters
Published
Mar 30, 2010
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South Korea manufacturers upbeat about second quarter

By
Reuters
Published
Mar 30, 2010

SEOUL, March 30 (Reuters) - South Korean manufacturers, led by chip and steelmakers, are optimistic about their second quarter business outlook, a survey showed on Tuesday 30 March, adding to a string of recent upbeat sentiment indicators.



Automakers, textile manufacturers and machinery companies also expect both domestic sales and exports to improve in the April-June quarter, whereas shipbuilders' assessment of their business conditions weakened further.

The business survey index of the Ministry of Knowledge Economy rose to 117 for the second quarter, the ministry said in a statement, versus the first quarter's 100 which was the poorest reading in three quarters.

The data came after a monthly index of South Korean manufacturers' sentiment, compiled by the central bank, hit its highest level and U.S. consumers kept spending on an upward path in February for a fifth straight month. [ID:nSUL000014] [ID:nN29246203] (Reporting by Kim Yeon-hee; Editing by Jacqueline Wong)

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