SEOUL– South Korea’s construction business sentiment gained for a second month in December thanks to increased year-end orders, a poll showed Thursday.
The construction business survey index (CBSI) came to 92.5 this month, up 4.1 points from the previous month, according to the survey by the Construction and Economy Research Institute of Korea.
Yet the December figure remains below par. A reading below 100 indicates builders are pessimistic about the current state of the construction industry and outnumber those with optimistic views.
The CBSI remained above par in May and June, but languished in the 80-point level in August, October and November due to the fourth wave of coronavirus infections.
The institute attributed December’s improvement to a year-end increase in new construction orders.
The survey also showed more construction companies being downbeat about business conditions in January due to seasonal factors, with the CBSI for the coming month amounting to 90.1.
Source: Yonhap News Agency