Business sentiment declines for April as private spending slows

Containers for exports and imports are piled at a pier in the southeastern port city of Busan on Jan. 1, 2024. [Yonhap]

Korea's business sentiment declined for April to snap its two-month improvement amid a slowdown in private spending, a central bank poll showed Wednesday.

Local companies' business sentiment index (BSI) stood at 71 for the coming month, down from 72 the previous month, according to the survey by the Bank of Korea.

The index measures corporate prospects for business conditions in the following month. A reading below 100 means pessimists outnumber optimists.

The central bank said business sentiment declined as domestic demand is expected to remain sluggish.

The BSI for manufacturers came to 73 for April, down 2 points from the previous month. The index for nonmanufacturing firms fell 1 point to 69 over the same period, the data showed.

Yonhap