Business sentiment index declines for another month

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Business sentiment index declines for another month

Korean manufacturers’ business sentiment continued to worsen for the upcoming month, central bank data showed Thursday, amid a steady decline in exports and sluggish demands at home that are apparently reflected in record-low inflation.

The business sentiment index (BSI) of manufacturing firms came to 71 for December, down from 72 for this month.

The reading marks the second consecutive month of drop. A reading below the benchmark 100 means pessimists outnumber optimists.

The BSI of manufacturers has remained below the 80-point threshold throughout the year amid a sharp decline in exports.

The country’s exports have dipped for 11 consecutive months since December, plunging 14.7 percent from a year earlier to $46.78 billion in October alone.

Consumer prices have also been growing at record low levels, especially in recent months, before hitting the all-time low of minus 0.4 percent on-year growth in September.

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