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S.Korea's business sentiment worsens in June

Xinhua
30 Jun 2022, 17:30 GMT+10

SEOUL, June 30 (Xinhua) -- Sentiment among South Korean businesses over economic situations worsened on worry about high inflation, central bank data showed Thursday.

The business sentiment index (BSI) for all industries stood at 82 in June, down 4 points from a month ago, according to the Bank of Korea (BOK).

It marked the first slide in three months on growing concerns about runaway inflation, caused by geopolitical risks in Europe and the global supply chain disruptions.

To curb inflation, central banks in major economies hiked interest rates at a faster pace than expected, fueling worry about global economic recession.

The BSI among manufacturers declined 3 points over the month to 83 in June, and the index for non-manufacturers retreated 4 points to 82.

The results were based on a survey of 1,653 manufacturers and 1,147 non-manufacturers conducted between June 15 and 22. The reading below 100 indicates pessimists outnumbering optimists over economic conditions.

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