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S. Korea's Business Sentiment Worsens for Second Month amid COVID-19 Pandemic

Written: 2020-03-31 08:37:50Updated: 2020-03-31 10:13:17

S. Korea's Business Sentiment Worsens for Second Month amid COVID-19 Pandemic

Photo : YONHAP News

South Korean firms' business sentiment worsened for the second straight month in March amid the COVID-19 pandemic. 

According to the Bank of Korea on Tuesday, the business survey index(BSI) for all industries came to 54 for the month, down nine points from the previous month. 

A reading below 100 means pessimists outnumber optimists. 

The reading marks the lowest since February 2009, when the country was reeling from the shocks of the global financial crisis.

The index slipped a record eleven points in February and fell nearly ten points again this month.

The index for manufacturers marked 56, down nine points from a month earlier. It marked the lowest since March 2009. 

The BSI for non-manufacturers, which includes restaurants, wholesale and retail businesses, plunged eleven points to 53. 

The outlook index for all industries for April plummeted 16 points on-month to 53, the lowest since February 2009.

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