By IANS,
Seoul : 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 Wednesday.
The monthly business survey index (BSI), which gauges local manufacturers’ assessment of current business conditions, fell 3 points on-month to reach 80 in December, according to the Bank of Korea (BOK).
A reading below 100 means pessimists outnumber optimists, said Xinhua.
The BSI for January, measuring manufacturers’ outlook on business conditions for the upcoming month, came in at 79, down 4 points from a month earlier. Domestic manufacturers picked fragile domestic demand, economic uncertainties and rising raw material prices as their difficulties in doing business.
The monthly index for non-manufacturers gained 5 points on-month to 83 in December, but the index for January stood at 79, down 3 points from the previous month. Local non-manufacturers regarded weak domestic demand, fierce competition and uncertain economic conditions as their hardship.
The BSI index was based on a nationwide survey of 1,618 manufacturers and 890 non-manufacturers, conducted between Dec 14 and Dec 21.