Korean builder sentiment bounces back in February

Workers are at a construction site in Goyang, Gyeonggi Province, Jan. 22. Yonhap

Korean builders’ business sentiment rebounded in February from a month earlier on seasonal factors, but it remained subpar, a poll showed Tuesday .The country’s construction business survey index (CBSI) came to 72 last month, up 5 points from the previous month, according to the survey by the Construction and Economy Research Institute of Korea. Yet February’s tally was still far below par. A reading below 100 indicates that builders who are pessimistic about the industry’s current state outnumber those with optimistic views.

In January, the CBSI sank 8.5 points from December to fall below the 70-point level amid the country’s sluggish construction market. The institute attributed February’s rebound to a seasonal increase in construction orders, saying the construction industry remains stuck in the doldrums. The survey also showed the CBSI outlook for March amounting to 80, up 8 points from last month on rising new construction orders .But the institute added it remains to be seen whether market conditions will actually take a turn for the better this month, given negatives 카지노사이트 both at home and abroad

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