Biz sentiment falls in September on rising costs: BOK

South Korea's business sentiment declined in September as rising costs weighed on companies, according to a Bank of Korea survey. The Composite Business Sentiment Index (CBSI) for all industries fell to 99.1 from 102 in August, indicating that pessimism was now the majority view. This is the lowest reading since September 2022, when the pandemic was still in its early stages.

The index had previously peaked at 102 in September 2022. Transportation and leisure sectors showed an improvement in sentiment, but manufacturing experienced a drop. The CBSI for manufacturers declined to 99.5 from 103.8 in August, while the index for non-manufacturing companies rose to 98.9 from 96.7. The outlook for October remained steady at 99.6, unchanged from the previous month.