Business outlook slightly improves for March amid expectations for rebounding spending

Industry

Business outlook slightly improves for March amid expectations for rebounding spending

Published: 22 Feb. 2023, 10:14 Updated: 22 Feb. 2023, 10:35

Skyscrapers observed from Mount Namsan in central Seoul on Tuesday [YONHAP]

Korea's business sentiment slightly improved for March amid expectations that eased coronavirus curbs will bolster spending, a central bank poll showed Wednesday.

Local companies' business sentiment index (BSI) for February came to 71, up 3 points from what was tallied for the previous month, according to the survey by the Bank of Korea.

The index measures corporate prospects for business conditions the following month. A reading below 100 means pessimists outnumber optimists.

The rise appears to be based on expectations that eased virus-related restrictions could bolster spending and earnings for businesses.

The BSI for manufacturers stood at 66 for March, up 1 point from the previous month. The index for nonmanufacturing firms was also up 4 points over the same period to 74, the data showed.

Yonhap