S.Korea's business sentiment improves in December

Source: Xinhua | 2020-01-01

Sentiment among South Korean businesses over the economic situation improved this month on increased construction orders from the public sector, central bank data showed Tuesday.

The business sentiment index (BSI) rose two points over the month to 76 in December, according to the Bank of Korea (BOK). The reading below 100 indicates pessimists outnumbering optimists.

The enhanced sentiment was attributed to growth in construction orders from the public sector. Sentiment among construction companies advanced eight points from a month earlier to 74 in December.

Sentiment in the transport and storage industry picked up seven points to 83 in the month thanks to year-end demand for parcel delivery services.

The sentiment among manufacturers was unchanged at 74 this month, but the reading among non-manufacturers gained three points to 78 in December.

Among manufacturers, the sentiment in the automotive sector climbed eight points to 80 in the month on solid demand for newly launched vehicles.

Sentiment in the metal-processing industry added four points to 67 on an increased metal demand from carmakers.

The overall BSI remained below 100 on worry about the global economic slowdown. The country's export continued to reduce for 12 straight months through November.