Tue, 07 Dec 2021

S.Korea's business sentiment stagnant in November

Xinhua
24 Nov 2021, 14:18 GMT+10

SEOUL, Nov. 24 (Xinhua) -- Sentiment among South Korean businesses over the economic situation remained stagnant this month, central bank data showed Wednesday.

The business sentiment index (BSI) for all industries stood at 86 in November, unchanged from the previous month, according to the Bank of Korea (BOK).

It was based on a survey of 1,623 manufacturers and 1,139 non-manufacturers conducted from Nov. 9 to Nov. 16. The reading below 100 indicates pessimists outnumbering optimists.

The BSI among manufacturers came to 90 in November, making no change for the third consecutive month.

Global demand grew for locally-made semiconductors, but the automotive production was disturbed by the supply disruption of chips used to make cars.

The BSI among non-manufacturers fell 1 point over the month to 83 in November.

Demand gained for cargo transport ahead of the year-end, but sentiment in the real estate and the wholesale and retail sectors weakened this month.

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