Biz sentiment rises to near 4-yr high in Aug. on improved service outlook in vacation season: BOK

South Korea's business sentiment surged to a near four-year high in August, according to a Bank of Korea (BOK) survey released on Wednesday. The Composite Business Sentiment Index (CBSI) for all industries reached 99.6 in August, a 1.1-point increase from the previous month, marking the highest level since September 2022. The index gauges corporate outlooks on overall business conditions, with a score below 100 indicating pessimism outweighs optimism.

The improvement in sentiment was particularly notable in the non-manufacturing sector, including transportation, leisure, broadcasting, and film, which saw a 1.5-point rise to 96.7 in August. Meanwhile, the manufacturing sector's CBSI climbed 0.6 points to 103.8 in August, surpassing 100 for the fourth consecutive month since May 2022.

The outlook for September also improved, with the CBSI rising to 99.6 from 96.5 in the previous month. The broader economic sentiment index (ESI), reflecting sentiment among both consumers and businesses, climbed 1.5 points to 99.4 for August.