Businesses More Pessimistic Than Ever

  • By Jeon Soo-yong

    July 30, 2019 12:47

    Business sentiment for August among major Korean companies is at its lowest ebb in 10 years and five months.

    The Korea Economic Research Institute said Monday the business survey index of 600 major businesses stands at a dismal 80.7.

    Any figure below 100 means pessimists outnumber optimists, and the BSI has been under 100 for 15 months.

    The reading for August is the lowest since March 2009, just after the global financial crisis. In manufacturing the BSI was even more miserable with 74.7, compared to 89.1 in the non-manufacturing sector.

    KERI researcher Kim Yoon-kyoung said, "The sluggish economy led to a decrease in demand, and the trade war between China and the U.S. and export curbs from Japan are causing concerns of shrinking production."

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