S. Korean builder sentiment edges up in March

South Korean builders' business sentiment inched up in March from a month earlier, but it remained below par, a poll showed Thursday. The country's construction business survey index (CBSI) amounted to 73.5 last month, up 1.5 points from the previous month, according to the survey by the Construction and Economy Research Institute of Korea. It marked the second consecutive month of increase but was still far below par. In January, the CBSI sank 8.5 points from December to fall below the 70-point level amid the country's sluggish construction market. A reading below 100 indicates that builders who are pessimistic about the industry's current state outnumber those with optimistic views. The institute said the local construction industry appears to remain stuck in the doldrums, despite the slight increase in March. The survey also showed the CBSI outlook for April reaching 81.6, up 8.1 points from last month on market-boosting government measures. A week ago, the government unveiled a set of steps to help the local construction sector recover from a prolonged slump. But the institute added it remains to be seen whether market conditions will actually improve this month due to unfavorable factors both at home and abroad. Source: Yonhap News Agency