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Business Sentiment Improves for 3rd Month in May

Written: 2024-05-22 10:06:10Updated: 2024-05-22 10:08:05

Business Sentiment Improves for 3rd Month in May

Photo : YONHAP News

Business sentiment among domestic firms improved for the third consecutive month in May.

According to the Bank of Korea on Wednesday, the Business Survey Index(BSI) for all industries stood at 73 in May, up two points from the previous month. 

The index increased for the third consecutive month after falling to 68 in February, the lowest figure in three years and five months since September 2020.

A reading below 100 means pessimists outnumber optimists.

The BSI for manufacturers also gained one point month-on-month to reach 74 in May, posting growth for the third straight month to hit an 18-month high. 

The index for non-manufacturing industries, which includes restaurants, wholesalers and retail businesses, rose three points month-on-month to 72.

Meanwhile, local firms' business outlook for June marked 74, up one point from the previous month.

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