SEOUL, July 30 (Xinhua) -- Sentiment for South Korean businesses over economic situation rebounded in July thanks to improvements in manufacturing sectors, central bank data showed Thursday.
The composite business sentiment index (CBSI) in all industries rose 0.8 points from a month earlier to 98.5 in July, after sliding 1.2 points in the previous month, according to the Bank of Korea (BOK).
The turnaround was boosted by recoveries in manufacturing sectors such as machinery, precision instruments and fabricated metal products.
The CBSI among manufacturers gained 2.0 points to 103.2, while the index for non-manufacturers slipped 0.2 points to 95.2.
The result was based on a survey of 1,783 manufacturers and 1,410 non-manufacturers conducted between July 14 and 22.
Manufacturers selected higher raw materials price, economic uncertainty, and weak domestic demand as key barriers to doing business, while non-manufacturers picked faltering consumer demand, uncertain economic situations and higher labor costs.
The economic sentiment index (ESI), which reflects sentiment among both businesses and consumers, stood at 97.9 in July, up 1.1 points from a month earlier. ■