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S. Korean manufacturers' business sentiment unchanged for April

All Headlines 06:00 March 28, 2019

SEOUL, March 28 (Yonhap) -- South Korean manufacturers' business sentiment for the next month remains steady, with rising oil prices causing a mixed outlook, central bank data showed Thursday.

The business survey index (BSI) of local manufacturers came to 76 for April, unchanged from the previous month's figure, according to the Bank of Korea (BOK).

The index for petrochemical firms rose a sharp 14 points to 78 as an upside trend in crude oil prices helped push up the cost of refined petroleum products.

But sentiment among chemicals makers plunged 11 points to 81 on pessimism about decreasing profits due to the likelihood of higher crude prices in the coming month.

Shipbuilders' sentiment skyrocketed to 81 for next month from 62 on recovering global demand.

Meanwhile, the surveyed companies' business confidence for the current month moved up four points to 73.

As for the nonmanufacturing sector, the BSI for the upcoming month gained one notch to 76 as the spring season is expected to boost outdoor activities.

The latest BSI was based on a survey of 3,143 firms conducted from March 13-20, the central bank said.

The Bank of Korea main office in downtown Seoul (Yonhap)


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