South Korea’s business sentiment improved for a third consecutive month in June amid a steady recovery in exports, which offsets a slowdown in private spending, a central bank poll showed Wednesday.
Local companies’ business sentiment index (BSI) stood at 74 for the coming month, up from 73 the previous month, according to the survey by the Bank of Korea.
The index measures corporate prospects for business conditions in the following month. A reading below 100 means pessimists outnumber optimists.
The central bank said business sentiment rose as exports are likely to continue their upward trend.
The BSI for manufacturers came to 76 for June, up 2 points from the previous month. The index for nonmanufacturing firms remained flat at 72 over the same period, the data showed.
South Korea’s exports extended gains to seven consecutive months in April, buoyed by robust chip demand, with shipments of automobiles also setting a fresh high.
Outbound shipments increased 13.8 percent on-year to US$56.2 billion las
t month, and imports gained 5.4 percent on-year to $54.7 billion last month, resulting in a trade surplus of $1.53 billion.
South Korea has been maintaining a trade surplus for 11 consecutive months.
Source: Yonhap News Agency