Business sentiment for local firms worsens, manufacturing sector gains confidence
- 5 years ago
It seem the U.S.-China trade war is weighing on South Korean companies as well... with their business outlook falling for this month.
But things were a little different for manufacturing companies.
Park Hee-jun has more. Business sentiment among South Korean companies has dropped for the first time in three months.
According to the Bank of Korea on Wednesday,... the sentiment index for all industries recorded 73 -- a point down from the previous month.
A figure under 100 means indicates there are more pessimists than optimists about local business conditions.
The fall is largely attributed to the escalating trade tensions between the U.S. and China that's eroding confidence in the economy.
The number is expected to drop further by four points to 73 in June.
The outlook for South Korea's manufacturing sector edged up a point from the previous month to 76 -- the fourth monthly increase in a row.
That's because figures for electronics companies jumped nine points,.. thanks to higher price competitiveness driven by the won-dollar exchange rate and rising demand for smartphones.
But it's still below the long-term average of 79.
And the number is forecast to fall a point in June.
The sentiment index for non-manufacturing companies, however,... fell three points to 71.
That's largely due to decreased demand for construction engineering,... pulling down the science and technology sector by eleven points to 69.
Real estate business sentiment also slumped ten points to 61.
To spur economic vitality,... President Moon Jae-in is emphasizing the need to boost corporate investments.
While being briefed on the economic situation by finance minister Hong Nam-ki on Tuesday,... the president called on the National Assembly to work to pass the supplementary budget bill so the funds can be used to shore up the economy.
Park Hee-jun, Arirang News.
But things were a little different for manufacturing companies.
Park Hee-jun has more. Business sentiment among South Korean companies has dropped for the first time in three months.
According to the Bank of Korea on Wednesday,... the sentiment index for all industries recorded 73 -- a point down from the previous month.
A figure under 100 means indicates there are more pessimists than optimists about local business conditions.
The fall is largely attributed to the escalating trade tensions between the U.S. and China that's eroding confidence in the economy.
The number is expected to drop further by four points to 73 in June.
The outlook for South Korea's manufacturing sector edged up a point from the previous month to 76 -- the fourth monthly increase in a row.
That's because figures for electronics companies jumped nine points,.. thanks to higher price competitiveness driven by the won-dollar exchange rate and rising demand for smartphones.
But it's still below the long-term average of 79.
And the number is forecast to fall a point in June.
The sentiment index for non-manufacturing companies, however,... fell three points to 71.
That's largely due to decreased demand for construction engineering,... pulling down the science and technology sector by eleven points to 69.
Real estate business sentiment also slumped ten points to 61.
To spur economic vitality,... President Moon Jae-in is emphasizing the need to boost corporate investments.
While being briefed on the economic situation by finance minister Hong Nam-ki on Tuesday,... the president called on the National Assembly to work to pass the supplementary budget bill so the funds can be used to shore up the economy.
Park Hee-jun, Arirang News.