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| ▲ Containers are unloaded from ships at a port in the southeastern city of Busan, in this file photo taken Aug. 1, 2023. (Yonhap) |
biz outlook-July
Biz outlook snaps 4-month improvement in July amid high oil prices
SEOUL, July 25 (Yonhap) -- South Korea's business sentiment ended its four-month rise in July amid high oil prices, which affected petrochemical businesses, a central bank poll showed Thursday.
Local companies' business sentiment index (BSI) stood at 95.1 this month, down from 95.7 the previous month, according to the survey by the Bank of Korea.
The index measures corporate prospects for business conditions. A reading below 100 means pessimists outnumber optimists.
The central bank said business sentiment declined as high oil prices renewed woes over corporate earnings and high costs.
The BSI for manufacturers came to 95.7 this month, down from 97.4 the previous month. The index for nonmanufacturing firms came in at 94.6, up from 94.3 over the cited period, the data showed.
But their business sentiment improved for the coming month on the back of an extended recovery in exports.
South Korea's exports extended on-year gains to the ninth straight month in June on the back of the record performance of semiconductors.
Outbound shipments rose 5.1 percent on-year to US$57 billion in June, while imports shed 7.5 percent on-year to $49 billion last month, resulting in a trade surplus of $8 billion.
South Korea has been maintaining a trade surplus for 13 consecutive months.
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