South Korea Business Sentiment Weakens Slightly

(RTTNews) - South Korea's business confidence weakened slightly in July, survey data from the Bank of Korea showed on Thursday.

The composite business sentiment index dropped to 89.4 in July from 89.5 in June. A score below 100 indicates pessimists outnumber optimists.

The BSI for manufacturing rose to 93.4 from 93.1 in the prior month. Meanwhile, the index for non-manufacturing fell to 86.7 from 87.1.

The Economic Sentiment Index, a composite of the Business Sentiment Index and the Consumer Survey Index was 92.8 for June, up 0.6 points from the previous month.

ING economist Min Joo Kang said the survey conducted amid heightened tension in the Middle East, which negatively affected business sentiment.

The cautious approach by export-oriented businesses highlights the persistent concerns regarding geopolitical tensions and trade policies, the economist noted.