Biz sentiment rebounds in July on strong manufacturing outlook: BOK
Containers are stacked at a port in Pyeongtaek, Gyeonggi Province, Friday. Yonhap
Korea's business sentiment rebounded in July, driven by improved confidence among manufacturers amid robust semiconductor exports, a central bank survey showed Thursday.
The Composite Business Sentiment Index (CBSI) for all industries stood at 98.5 in July, up 0.8 point from the previous month, according to data from the Bank of Korea (BOK).
The reading marked a rebound after the index fell 1.2 points in June.
The index measures corporate outlooks on overall business conditions, with a reading below 100 indicating that pessimists outnumber optimists.
The CBSI among manufacturers climbed 2 points from a month earlier to 103.2 in July, marking the highest point in more than four years since June 2022, when the reading stood at 107.1.
The manufacturing index surpassed the 100 mark for the third consecutive month after topping the threshold in May for the first time since August 2022.
However, the index among nonmanufacturers went down 0.2 point on-month to 95.2.
The outlook for August rose 1.3 points to 96.5 from the previous month's prospect of 95.2, the survey showed.
The economic sentiment index, or ESI, which reflects sentiment among both consumers and businesses, went up 1.1 points to 97.9 for July.