Korean companies in China becoming less optimistic

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Korean companies in China becoming less optimistic

Korean companies operating in China are less optimistic about business conditions in the fourth quarter of this year, as the Chinese economy is cooling amid a trade spat with the United States, a survey showed Sunday.

According to the Korea Institute for Industrial Economics and Trade (KIET), its business survey index (BSI) stood at 103 for the October-December period, down 12 points from the previous quarter.

A BSI reading above 100 means optimists outnumber pessimists.

The BSI for the sales outlook was also still over 100, but came in at 117, down 8 from a quarter ago.

By sector, electronics, electric and retail were more pessimistic about the fourth quarter, while automaking and textiles remained bullish over business conditions in China.

Last week, China reported its weakest quarterly growth since the first quarter of 2009, during the global financial crisis.

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