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SEOUL: Confidence in South Korea’s services sector continues to improve, with July’s outlook the most optimistic in nine months, but manufacturing slightly pessimistic, central bank survey shows on Thursday. became clear.

The business outlook index for the service sector rose to 78 in July from 75 in June on a seasonally adjusted basis, according to the Bank of Korea’s monthly business survey.

The index surpassed the 20-year average of 77 for the first time since October 2022, declining concerns about broader economic uncertainty despite growing concerns about weak domestic demand in the survey. was shown.

Meanwhile, the manufacturing sector index fell to 69 from a five-month high of 70.

After contracting in the second half of 2022, the South Korean economy grew 0.3% quarter-on-quarter in the first quarter, driven by consumer spending. Exports may also be slowly turning a corner after a long period of stagnation. South Korean service firms most optimistic in nine months

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