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S.Korea’s business sentiment worsens in September

Xinhua News,SEOUL
2020-09-29 14:26

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SEOUL, Sept. 29 (Xinhua) -- Sentiment among South Korean businesses over economic situation worsened this month on the COVID-19 resurgence here, central bank data showed Tuesday.

The business sentiment index (BSI) stood at 64 in September, down 2 points from the previous month, according to the Bank of Korea (BOK).

The reading below 100 indicates pessimists outnumbering optimists. It was based on a survey of 1,637 manufacturers and 1,150 non-manufacturers conducted from Sept. 14 to Sept. 21.

After bottoming at 51 in April, the index continued to rise through August, but it turned downward this month due to the COVID-19 resurgence, caused by cluster infections linked to church services and a massive rally in Seoul on Aug. 15.

The BSI for manufacturers gained 2 points over the month to 68 in September, but the figure among non-manufacturers declined 4 points to 66.

Services companies were hit hard by the COVID-19 resurgence as the government tightened social-distancing guidelines, discouraging people from outside activities such as eating out and shopping.
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