S. Korea's business sentiment rebounds in October
Source: Xinhua | 2020-10-30
Sentiment among South Korean businesses over the economic situation rebounded this month amid an eased worry about the COVID-19 pandemic, central bank data showed on Thursday.
The business sentiment index (BSI) stood at 74 in October, up 10 points from the previous month, according to the Bank of Korea (BOK). The reading below 100 indicates pessimist outnumbering optimists.
It marked the fastest monthly increase in about 11 and a half years since April 2009. Concerns moderated over the COVID-19, which resurged here in August and September due to cluster infections in the Seoul metropolitan area.
The government lowered its social-distancing guidelines earlier this month, boosting expectations for the recovery of private consumption. Under the tighter guidelines, people refrained from outside activities such as shopping.
The BSI among manufacturers picked up 11 points over the month to 79 in October, while the reading for non-manufacturers advanced 7 points to 69 in the month.
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