Sentiment for South Korean businesses over the economic situation improved for a second straight month thanks to an earnings recovery in service sectors, central bank data showed Wednesday.
The composite business sentiment index (CBSI) in all industries increased 1.1 points from a month earlier to 99.6 in August, after rising 0.8 points in the previous month, according to the Bank of Korea.
The consecutive improvement was driven by earnings recovery in service sectors such as transportation and warehousing, and information and communications industries.
Positive sentiment remained among manufacturers, fueled by the continued semiconductor boom.
The CBSI among manufacturers gained 0.6 points to 103.8, and the index for non-manufacturers climbed 1.5 points to 96.7.
The result was based on a survey of 1,770 manufacturers and 1,400 non-manufacturers conducted between Aug. 10 and 18.
The economic sentiment index, which reflects sentiment among both businesses and consumers, stood at 99.4 in August, up 1.5 points from a month earlier.
