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S. Korea's business sentiment improves for Oct.

All News 09:13 September 29, 2016

SEOUL, Sept. 29 (Yonhap) -- South Korean companies' business sentiment for the upcoming month rose from a month earlier, but a majority of local firms still continue to hold a negative outlook due to weak demand at home and abroad, a survey showed Thursday.

The business survey index (BSI) for October came to 96, up from 95 posted the previous month, according to the Federation of Korean Industries (FKI).

The monthly index is based on a survey of 600 of the largest companies here. A reading below 100 means pessimists outnumber optimists, while a reading above the benchmark means the opposite.

S. Korea's business sentiment improves for Oct. - 1

The index has remained below the 100 mark for four consecutive months, partly affected by a protracted economic slump at home and abroad, coupled with geopolitical risks stemming from North Korea's nuclear test.

Also, Hanjin Shipping Co.'s receivership filing has raised concerns that global trade may decline and freight rates will climb, the association said.

An index on domestic consumption came to 100.2 for the upcoming month, with a separate index on exports falling short of the benchmark at 96.9 for the same month.

Amid sluggish demand at home and abroad, local companies expected their inventories to rise, with the index registering a 104.8 reading for inventories, with a separate index on employment and profitability standing at 99.1 and 98.8, respectively.

sam@yna.co.kr
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