S.Korea's business sentiment worsens in January-Xinhua

S.Korea's business sentiment worsens in January

Source: Xinhua| 2022-01-27 11:39:15|Editor: huaxia

SEOUL, Jan. 27 (Xinhua) -- Sentiment among South Korean businesses over the economic situation worsened in January due to higher logistics cost and weaker demand in the construction and electronic sectors, central bank data showed Thursday.

The business sentiment index (BSI) in all industries came in at 86 in January, down 1 point from the previous month, according to the Bank of Korea (BOK).

The BSI among manufacturers dipped 5 points over the month to 90 in January, but the index for non-manufacturers added 1 point to 83.

The worsened sentiment for manufacturers was attributed to the higher transport cost and the sluggishness in the construction and electronic sectors.

Among manufacturers, the BSI for exporters tumbled 9 points to 100 in the cited month, while the reading for firms focusing on the domestic market retreated 3 points to 84.

Among non-manufacturers, the BSI for the wholesale and retail sector went up 10 points this month due to seasonal factors such as the New Year's holiday, while the index for the transport and warehousing segment gained 6 points on higher maritime freight cost.

The result was based on a survey of 1,609 manufacturers and 1,133 non-manufacturers conducted from Jan. 12 to Jan. 19.

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