The Bank of Korea’s survey has revealed that South Korea’s business sentiment index (BSI) has dropped to 69 for the month of November, down from 73 the month prior. The index measures the outlook for the coming month, and a reading below 100 indicates more pessimists than optimists.
The decrease in sentiment is attributed to a weak domestic demand, despite some signs of a recovery in earnings in certain areas of the manufacturing sector. The BSI for manufacturers rose two points to 69, while the index for non-manufacturing firms declined eight points to 69. The actual BSI for October was 70, a three-point decrease from September.
The survey was conducted on 3,524 businesses, including 1,956 manufacturers, from September 12 to 19. Containers are unloaded from ships at a port in the southeastern city of Busan, in this file photo taken August 1, 2023. (Yonhap)
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