SEOUL, April 28 (Xinhua) -- Sentiment for South Korean businesses over the economic situation improved in April thanks to increased sales and new orders in the manufacturing industry, central bank data showed Tuesday.
The composite business sentiment index (CBSI) in all industries rose 0.8 points from a month earlier to 94.9 in April, according to the Bank of Korea (BOK).
The rebound was attributed to the expanded sales and new orders as well as a reduction in product inventories in the manufacturing sector that offset higher raw material prices and production disruptions in some sectors, caused by the Middle East tensions.
The CBSI among manufacturers advanced 2.0 points to 99.1, while the index for non-manufacturers added 0.1 points to 92.1.
The CBSI hovered below the long-term average of 100 amid the lingering uncertainties at home and abroad.
The result was based on a survey of 1,781 manufacturers and 1,424 non-manufacturers conducted between April 9 and 16.
Manufacturers selected higher raw materials prices, economic uncertainty, and weak domestic demand as key barriers to doing business, while non-manufacturers picked commodity price hike, uncertain economic situation and faltering consumer demand.
The economic sentiment index (ESI), which reflects sentiment among both businesses and consumers, stood at 91.7 in April, down 2.3 points from a month earlier. ■
