South Korea’s business trend slumped slightly for July amid continued uncertainty in the economy and monetary tightening internally and externally, according to a South Korean Central Bank survey.
The business confidence index for local companies (BSI) for July was 75 points, down from 76 points the previous month, according to a Bank of Korea survey.
The index measures companies’ expectations of working conditions in the following month. When reading is less than 100, it means that there are more pessimists than optimists.
The deteriorating outlook appears to come from uncertainties surrounding economic conditions and monetary policies at home and in major economies.
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