SEOUL, Sept. 26 (Xinhua) -- Sentiment among South Korean businesses over economic conditions improved for the second consecutive month due to recovery in chipmakers and the extra budget plan to bolster consumer demand, central bank data showed Friday.
The composite business sentiment index (CBSI) in all industries rose 0.6 points over the month to 91.6 in September after going up 1.0 point in August, according to the Bank of Korea (BOK).
The continued improvement was attributed to the enhanced industry outlook for semiconductor manufacturers that offset the lingering uncertainty over negotiations between Seoul and Washington about the U.S. tariffs imposition.
The supplementary budget to offer cash handouts, which was aimed to boost consumer demand, contributed to the improved sentiment among non-manufacturers.
The CBSI among manufacturers inched up 0.1 point to 93.4 in September compared with the previous month, while the index for non-manufacturers gained 1.1 points to 90.5.
The CBSI continued to stay below the long-term average of 100 amid the remaining economic uncertainties.
The result was based on a survey of 1,843 manufacturers and 1,455 non-manufacturers conducted between Sept. 11 and 18.
Manufacturers selected faltering domestic demand, economic uncertainty and stiffer competition as key barriers to doing business, while non-manufacturers picked weak consumer demand, uncertain economic situation and higher labor costs.
The economic sentiment index (ESI), which reflects sentiment among both businesses and consumers, stood at 91.3 in September, down 3.3 points from a month earlier. ■