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Biz sentiment remains subdued for Nov. amid high energy prices, supply disruptions: poll

All News 06:00 October 29, 2021

SEOUL, Oct. 29 (Yonhap) -- South Korea's business sentiment remained subdued for November as concerns over higher oil prices and global supply disruptions offset optimism over a rebound in demand amid eased antivirus curbs, a central bank survey showed Friday.

The survey of 2,836 companies, conducted by the Bank of Korea, showed the country's business sentiment index (BSI) stood at 86 for November, unchanged from the previous month.

A reading below 100 means pessimists outnumber optimists. The index measures manufacturers' outlook on business conditions in the coming month.

The BSI for manufacturing companies decreased to 88 from 93 over the same period, with that for the non-manufacturing sector rising from 81 to 85, the poll showed.

The BOK said that the sentiment for non-manufacturing firms improved as eased social distancing rules could lead to more consumption but rising energy prices and the global supply bottleneck weighed on the sentiment for manufacturers.

South Korea plans to ease long-enforced restrictions on gatherings and business operations with its shift to the "living with COVID-19" scheme on Nov. 1 meant to gradually restore daily life back to pre-pandemic days.


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