South Korea’s business sentiment improved for a second consecutive month in September, driven by a rebound in the semiconductor sector and the government-issued consumption coupons.

According to the Business Survey Index released by the Bank of Korea on Friday, the Composite Business Sentiment Index(CBSI) for all industries rose zero-point-six points from the previous month to 91-point-six in September.

The CBSI measures corporate outlooks, including indices from five manufacturing and four non-manufacturing sectors. A figure below 100 reflects pessimism.

The forecast for October declined three-point-three points to 88-point-five for all industries, largely due to uncertainty surrounding trade negotiations with the U.S. and the reduction in working days due to this year’s Chuseok holiday.

Since recording 101-point-six points in September 2022, the CBSI has remained below the 100-point benchmark for three consecutive years.