Busan is good

Retailers forecast business pickup in 2nd quarter: BCCI

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Retail distributors in the region expect that unlike the first quarter of this year, which was seriously affected by the bird flu and a mad cow disease, their business in the second quarter will be gradually turning for the better.

According to the result of a survey of 126 retail distributors in Busan released Friday by the Busan Chamber of Commerce and Industry (BCCI), the Retail Business Survey Index (RBSI) for the second quarter of this year was 110.

The index, which hovers above 100 shows that the business in the coming months would pick up. The optimistic view of the retailers reflects a recent global business upturn and seasonally favorable factors.

Meanwhile, the index for business performance in the first quarter was 74, indicating that the regional retailers were much harder hit than earlier predicted by the sluggish domestic consumption. The index, which was released in December last year to forecast the business for the first quarter of 2004, was 90.

"Since the indices are designed to forecast business in the coming quarter by taking into account the current conditions, the ones for actual performance could be somewhat different. The numerical differences show that business conditions for the first quarter, say, the outbreak of the bird flu, were quite unfavorable for the industries," said a researcher of the chamber.

The source of news : Busanilbo, Saturday March 20, 2004, 10:29