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Business Sentiment Worsens in January

Written: 2022-01-27 09:02:40Updated: 2022-01-27 11:17:01

Business Sentiment Worsens in January

Photo : YONHAP News

Business sentiment slightly worsened this month due to a slowdown in the manufacturing industry.  

According to the Bank of Korea(BOK) on Thursday, the business survey index(BSI) for all industries stood at 86 for January, down one from the previous month.  

A reading below 100 means pessimists outnumber optimists.   

The BSI for manufacturers dropped five points on-month to 90 in January. The BSI for non-manufacturers, which includes restaurants, wholesalers and retail businesses, inched up by one point to 83. 

The central bank attributed the worsened BSI for manufacturers to the rise in logistics costs and a slowdown of demand in construction and electronics industries. 

Meanwhile, local firms' business outlook for February rose by one point on-month to 85.

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