South Korea’s business sentiment index drops further in July

The South Korean business sentiment index dropped further in July, indicating that manufacturers have become more pessimistic about the economic conditions as concerns about domestic demand continued, showed a survey by the Bank of Korea.

The Business Survey Index dropped by 4 points to 80. On a seasonally adjusted basis, the index fell to 81 from 82 seen in June. The main reason behind the drop in the overall index was the increased negativity among firms that depend on domestic consumption.

In the non-manufacturing sector, the BSI fell to 76 in July from 75 seen in June. Meanwhile, on a seasonally adjusted basis, the index dropped to 76 in July from June’s 74. The Economic Sentiment Index for June 2017 came in at 97.8, down 0.8 points from May 2017.

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