Business Sentiment in South Korea Declines for December Amid Economic Slowdown

SEOUL – Business sentiment in South Korea has decreased for December, reflecting concerns over the slowing economy, according to a survey by the Bank of Korea released on Wednesday.

According to Yonhap News Agency, The survey revealed that the local companies' business sentiment index (BSI) for the upcoming month is at 68, a slight decrease from 69 in the previous month. This index assesses corporate expectations for business conditions in the following month, with a reading below 100 indicating that pessimists outnumber optimists.

The Bank of Korea noted that the decline in business sentiment for December is attributed to expectations of continued weak domestic demand, although there are signs of recovery in some parts of the manufacturing sector. The BSI for manufacturers is at 69 for December, down by 1 point from November. In contrast, the index for non-manufacturing firms increased by 2 points to 71 over the same period.

The actual BSI for November was recorded at 70, an improvement from October.

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