South Korea’s business sentiment improved for the first time in three months and hit a nine-month high in August. 

According to the Bank of Korea on Wednesday, the Business Survey Index(BSI) for all industries rose one point from a month earlier to 91 in August, the highest reading since November last year. 

A reading below 100 indicates that pessimists outnumber optimists.

The BOK said the rise was driven by the government’s consumption coupons and the conclusion of a trade agreement with the United States. 

The BSI for manufacturers gained one-point-four points on-month to 93-point-three in August.  

The index for nonmanufacturing industries, which includes restaurants, wholesalers and retail businesses, increased zero-point-seven points and posted 89-point-four.