SEOUL, Sept. 29 (Xinhua) -- Sentiment for South Korean businesses over the economic situation edged down in September, though the broader recovery momentum remained on track, central bank data showed Tuesday.
The composite business sentiment index (CBSI) in all industries retreated 0.5 points from a month earlier to 99.1 in September, marking the first fall in three months, according to the Bank of Korea (BOK).
Despite the slight contraction, the index rose from 94.1 in March to 97.7 in June and 99.1 in September, maintaining an upward trajectory toward the neutral 100 mark.
The CBSI among manufacturers declined 4.3 points to 99.5 due to fewer working days, industrial strikes and lingering fallout from the Middle East conflicts.
The index for non-manufacturers gained 2.2 points to 98.9, fueled by rising outdoor activities and higher consumer spending ahead of the Chuseok holiday, the South Korean version of Thanksgiving Day.
The result was based on a survey of 1,760 manufacturers and 1,403 non-manufacturers conducted between Sept. 10 and 17.
Manufacturers picked subdued domestic demand, expensive raw materials, and economic uncertainty as key barriers to doing business, while non-manufacturers selected faltering consumer demand, an uncertain economic situation, and higher labor costs.
The economic sentiment index (ESI), which reflects sentiment among both businesses and consumers, stood at 99.9 in September, up 0.5 points from a month earlier. ■
