S. Korea’s business sentiment worsens for 3rd month in September

SEOUL, Sept. 27 (Xinhua) — Sentiment of South Korean businesses over the economic situation worsened for the third straight month amid lingering uncertainty at home and abroad, central bank data showed Friday.
The composite business sentiment index (CBSI) in all industries fell 1.3 points over the month to 91.2 in September, after slipping 0.6 points in July and 2.6 points in August, according to the Bank of Korea (BOK).
The index hovered below the long-term average of 100 on the back of growing concerns about economic downturn in major economies and delayed recovery in domestic demand.
The CBSI among manufacturers declined 1.9 points to 90.9 in September compared to the previous month, and the index for non-manufacturers retreated 0.8 points to 91.4.
The results were based on a survey of 1,822 manufacturers and 1,458 non-manufacturers conducted between Sept. 4 and 11.
Manufacturers selected faltering domestic demand, economic uncertainties and higher labor costs as key barriers to doing business, while non-manufacturers picked domestic demand slump, uncertain economic situations and higher labor costs.
The economic sentiment index (ESI), which reflects sentiment among businesses and consumers, stood at 93.7 in September, down 0.5 points from the previous month. ■