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South Korea business sentiment rises on shipbuilding recovery

Staff Writer |
Sentiment among South Korean businesses rebounded this month thanks to recovery in the shipbuilding sector, central bank data showed Wednesday.

The business sentiment index (BSI) stood at 74 in November, up 1 point from the previous month, according to the Bank of Korea (BOK).

The index rebounded this month, after falling to the lowest in about two years last month. The reading below 100 indicates pessimists outnumbering optimists.

The rebound was attributed to an increase in ship orders, which led to the recovery in the shipbuilding industry.

The BSI for shipbuilders surged 18 points over the month to 59 in November. The BSI for all manufacturers advanced from 71 in October to 73 in November.

The BSI for non-manufacturers fell two points to 74 in the cited period. The BSI for information and communications companies shed two points on weak software demand, with the figure for the sports and art sector sliding eight points on seasonal factors.

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