SEOUL, Nov. 24 (Yonhap) — South Korean manufacturers’ business sentiment remained sluggish for December amid high shipping costs and raw material prices, central bank data showed Wednesday.
The business sentiment index (BSI) for local manufacturers came to 88 for December, unchanged from this month, according to the data from the Bank of Korea (BOK).
The index measures manufacturers’ prospects for business conditions in the following month. A reading below 100 means pessimists outnumber optimists.
The index stayed unchanged as high shipping and raw material costs are feared to drive up overall production costs.
The BSI for large companies also remained unchanged at 97 for December.
Meanwhile, the BSI of non-manufacturing businesses came to 83 for December, down from 85 for this month, the BOK data showed.
The worsened sentiment is attributed to worries over less demand for software, computer games and other indoor goods since eased social distancing rules will encourage people to expand outdoor activities.