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Financial News: South Korea Business Sentiment Rises For Third Month

South Korea Business Sentiment Rises For Third Month

05/29/2019 - 03:28:00 (RTTNews)

(RTTNews) - South Korea's business sentiment rose for the third month in a row in May, led by an improvement in morale in manufacturing, data from the Bank of Korea showed on Wednesday.

The business survey index for all industries rose to 76 in May from 75 in April.

The seasonally adjusted business sentiment index improved to 73 from 72.

Confidence strengthened among export-oriented businesses, while morale weakened slightly among domestic demand-oriented sectors.

Manufacturing businesses were slightly less confident regarding sales, while their assessment on profitability was stable.

They expect input prices to increase, but hope to keep sales prices unchanged.

The business sentiment index for non-manufacturing industries fell to 71 in May from 74 in the previous month.

On a seasonally adjusted basis, business sentiments for non-manufacturing sector decreased to 68 from 72.

Meanwhile, the economic sentiment index fell to 91.6 from 95.3 in the preceding month.

The survey was carried out between May 14 to 21 among 3,172 companies.

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