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S Korean companies see grim outlook for March
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15:43, February 26, 2009

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South Korea's major companies presented a gloomy outlook for business conditions in March, though less pessimistic than a month ago, a survey by the Federation of Korean Industries said Thursday.

The monthly business survey index, an indicator of business sentiment for the upcoming month, marked 76.1 for March, slightly rising from the previous month's 66, according to the survey.

It was the 10th consecutive month for the index to post below 100, representing a clear sign of pessimistic forecasts still prevalent in businesses, the federation said.

However, the slight rise in business confidence was due to expectations that the government's pump-priming measures may help the economy make an upward turn, the federation added.

In a bid to keep the economy from further sliding into a recession, the South Korean government plans to invest as much as 140 trillion won, or 92.5 billion U.S. dollars, in its economic stimulus package, South Korea's Yonhap News Agency reported. 

Source: Xinhua

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