Korea's business sentiment worsens in November
Published: 27 Nov. 2024, 11:12
Korea's national flag, the Taegeukgi, flutters in Songpa District, southern Seoul on March 1. [NEWS1
Korea's business sentiment worsened in November amid growing concerns over weak growth momentum due partly to sagging domestic demand, a central bank poll showed Wednesday.
The Composite Business Sentiment Index, or CBSI, in all industries for November came to 91.5, down 0.6 point from the figure tallied for the previous month, according to the survey by the Bank of Korea.
The index measures corporate prospects for business conditions. A reading below 100 means pessimists outnumber optimists.
The CBSI among manufacturers fell 0.6 point from a month earlier to 90.6 in November, while the index for non-manufacturers gained 0.4 point to 92.1.
Manufacturers pointed to an increase in inventory stock, tight financial conditions and the overall economic situation as major reasons for their negative view.
Non-manufacturers cited rising profitability and sales as positive factors, though they also voiced concerns over the economic situation and tight financing conditions.
The economic sentiment index, which reflects sentiment among both consumers and businesses, added 0.2 point to stand at 92.7 for November, the data showed.
The results were based on a survey of 1,869 manufacturers and 1,457 non-manufacturers conducted from Nov. 12-19.
Yonhap
with the Korea JoongAng Daily
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