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S. Korea's business sentiment rebounds in September

SEOUL
2023-09-27 10:30

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SEOUL, Sept. 27 (Xinhua) -- Sentiment among South Korean businesses over the economic situation rebounded in the past three months due to higher seasonal demand for goods and services, central bank data showed on Wednesday.

The business survey index (BSI) in all industries advanced 2 points over the month to 73 in September, after sliding 2 points in July and 3 points in August, according to the Bank of Korea.

The index below 100 indicates pessimists outnumbering optimists. It was based on a survey of 1,607 manufacturers and 1,106 non-manufacturers conducted between Sept. 12 and 19.

The turnaround was caused by recovery in some manufacturers and increased seasonal demand that offset lingering economic uncertainty such as continued export fall and property market slump.

The BSI for manufacturers added 1 point to 68 in the cited month, while the index for non-manufacturers increased 2 points to 77.

Meanwhile, the economic sentiment index, which reflects sentiment among both businesses and consumers, stood at 92.7 in September, down 1.3 points from the previous month.

Manufacturers picked economic uncertainty, sluggish domestic demand and higher commodity prices as key barriers to doing business, while non-manufacturers selected uncertain economic situations, domestic demand slump and higher labor costs.
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