Corporate sentiment in South Korea hit a six-month low in February as companies remained increasingly worried about unfavorable business conditions at home and abroad, a survey showed Thursday.
According to the survey by the Federation of Korean Industries of the country's top 600 companies by sales, the business survey index for this month stood at 89.4, the lowest level since August when it was 89.
A BSI reading below 100 means pessimists outnumber optimists.
By sector, the sub indices for domestic demand, exports and investment each stayed at 88.1, 90.6 and 95.6. The comparable figures for employment and profitability were 97.3 and 93.3, respectively, according to the survey.
A cooled-down business sentiment amid growing uncertainty at home and abroad was cited as a major factor behind the downward trend.
The survey, however, showed that companies' outlook for the near future improved slightly as increased working days compared to last year and recently eased eurozone economic uncertainty could provide better business conditions.
The BSI for March rose to 103.7, the first time that the index has broken through the 100-mark in five months. Optimists outnumbered pessimists in domestic demand, exports and profitability, but it was the other way around for capital flows, inventories and employment, the survey showed. (Yonhap)