Biz sentiment rises to over 4-year high in Oct. on improved outlook: BOK
South Korea's business sentiment rose to a more than four-year high in October, driven by solid confidence in manufacturing and an improved outlook in nonmanufacturing, a central bank survey showed Thursday. The Composite Business Sentiment Index (CBSI) for all industries stood at 104.2 in October, up 5.1 points from the previous month, according to data from the Bank of Korea (BOK). The reading…
South Korea's business sentiment hit a four-year high in October, according to a survey conducted by the Bank of Korea (BOK). The Composite Business Sentiment Index (CBSI) for all industries reached 104.2, a 5.1-point increase from the previous month. This reading marked the highest level since August 2022, when the index stood at 105.5 following the COVID-19 pandemic.
The index gauges corporate outlooks on overall business conditions, with a reading below 100 suggesting that pessimists outweigh optimists. Boosts in investment and production across key sectors, like semiconductors, automobiles, and shipbuilding, fueled growth in associated upstream industries, according to a BOK official. Additionally, a stronger Korean won assisted local businesses in reducing the financial strain of importing raw materials.
The CBSI for manufacturers climbed 6.1 points month-over-month to 105.6, the highest point in over four years since June 2022.
Written by urgent.news from The Korea Times's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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