South Korea’s business sentiment weak in November

Seoul, Nov 28: South Korea’s business sentiment remained weak this month as local firms were still worried about economic uncertainties amid fragile domestic demand, the central bank said Monday.

The monthly business survey index (BSI), which gauges local manufacturers’ assessment of current business conditions, edged up one point on-month to reach 83 in November, according to the Bank of Korea (BOK).

A reading below 100 means pessimists outnumber optimists.

The assessment on future business conditions was enhanced slightly. The BSI for December, measuring manufacturers’ outlook on business conditions for the upcoming month, came in at 83, up one point from a month earlier, reported Xinhua.

Manufacturers picked fragile domestic demand, economic uncertainties and foreign exchange volatility as their difficulties in doing business, while non-manufacturers regarded weak domestic demand, fierce competition and uncertain economic conditions as their hardship.