ID :
187099
Wed, 06/08/2011 - 06:05
Auther :
Shortlink :
https://oananews.org//node/187099
The shortlink copeid
S. Korean builder sentiment rises for June
SEOUL (Yonhap) - Business sentiment among South Korean builders improved for June from the previous month thanks to hopes of increasing orders in the public sector, but it remained weak amid a sluggish property market, a report showed Wednesday.
The monthly construction business sentiment index (CBSI) for June rose to 80.4 for this month from 66.3 in May, according to the report by the Construction and Economy Search Institute of Korea (CERIK).
A reading below 100 means that pessimists outnumber optimists.
"An improvement in the builder's sentiment appeared to have come from expectations of a recovery in the construction market, as orders from the public sector are increasing and the housing market is recovering in the local big cities," the CERIK report said.
South Korea's property market has been swamped in a prolonged slump since the onset of the 2008 financial crisis.
On May 1, the government announced measures to support local builders by actively disposing soured construction loans in a bid to boost the sputtering construction sector.
The report also pointed out that the builders' sentiment is still weak as the May measures had little positive impact on the local construction sector.
The monthly construction business sentiment index (CBSI) for June rose to 80.4 for this month from 66.3 in May, according to the report by the Construction and Economy Search Institute of Korea (CERIK).
A reading below 100 means that pessimists outnumber optimists.
"An improvement in the builder's sentiment appeared to have come from expectations of a recovery in the construction market, as orders from the public sector are increasing and the housing market is recovering in the local big cities," the CERIK report said.
South Korea's property market has been swamped in a prolonged slump since the onset of the 2008 financial crisis.
On May 1, the government announced measures to support local builders by actively disposing soured construction loans in a bid to boost the sputtering construction sector.
The report also pointed out that the builders' sentiment is still weak as the May measures had little positive impact on the local construction sector.
