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Politics : Formerly About Applied Materials -- Ignore unavailable to you. Want to Upgrade?

To: StanX Long who wrote (58349)	1/2/2002 11:06:07 PM
From: StanX Long	Read Replies (1) \| Respond to of 70976

Thursday January 3, 11:13 AM Key Korean business indicator signals recovery SEOUL (Reuters) - South Korea's key business sentiment index rose for the third month running in January on signs the economy will pick up this year, the Federation of Korean Industries (FKI) said on Thursday. sg.biz.yahoo.com The FKI said its monthly business survey index (BSI), which measures companies' optimism on the economy, rose to 105.1 in January from 101.3 in December. A reading above 100 means companies forecasting the economy will improve outnumber those expecting a deterioration. "The perception that there would not be a further economic deceleration is spreading amid a drawdown in inventories and robust domestic demand," FKI said. The government has forecast four percent growth in gross domestic product this year versus an estimated 2.8 percent expansion in 2001. But Korea's most powerful corporate lobbying group held back on judging whether the economy has entered a recovery phase given still sluggish exports and corporate investments. The benchmark stock market index was up 0.9 percent in early trade after hitting a 16-month high on Wednesday as a brighter outlook for the economy offered investors hope for better days to come. A heavy fall in safe-haven treasuries also showed investors were more hopeful about the economy. After a 12.5 percent drop last year, the government expects Korea's chip-heavy exports to rise 7.5 percent to $162 billion in 2002.