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Business Sentiment Remains Negative for 2nd Consecutive Year

Written: 2024-02-27 17:16:27Updated: 2024-02-27 17:43:32

Business Sentiment Remains Negative for 2nd Consecutive Year

Photo : YONHAP News

Business sentiment among domestic firms was estimated to be negative for the second consecutive year amid the prolonged economic downturn.

According to the Federation of Korean Industries(FKI) on Tuesday, the projected business survey index(BSI) of the top 600 companies by sales for the month of March stood at 97, to indicate that pessimists outnumber optimists with a reading below 100.

With the latest figure, the index gauging business sentiment remained below 100 for the 24th consecutive month since 2022. 

By industry, the BSI for manufacturers topped 100 for the first time since April 2022 to stand at 100-point-five, thanks to rosy outlooks for the machinery, equipment, automobiles and oil refining industries. 

The index for non-manufacturing sectors stood at 93-point-five, standing below 100 for the third straight month.

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