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Pedestrians walk across a street near Gwanghwamun Square in central Seoul. (Yonhap) |
South Korean's business sentiment improved slightly for March but remained below par amid the fast spread of the COVID-19 omicron variant, a central bank poll showed Wednesday.
The business sentiment index (BSI) for local companies came to 88 for March, up three points from the previous month, according to the survey by the Bank of Korea (BOK).
The BSI for manufacturers climbed to 93 from 90 over the cited period, and that for non-manufacturing businesses also gained two points to 84.
The index measures corporate prospects for business conditions in the following month. A reading below 100 means pessimists outnumber optimists.
The central bank attributed the slight rise in the March tally to expectations for better business conditions for chemicals, electronics and communication equipment makers. Non-manufacturing firms predicted their conditions would improve slightly in March thanks to greater springtime sales, it added.
The index for large companies increased two points to 100, with that for smaller firms expanding five points to 85.
The BSI for exporting companies rose to 107 from 101, and that for domestic demand-oriented businesses edged up to 85 from 84.
Yet, March's below-par reading comes as South Korea has recently seen a surge in coronavirus infections due to the raging omicron variant.
New daily infections have risen at a fast clip in recent weeks, topping the 100,000 mark for the first time Friday. The number is widely expected to surpass 150,000 on Wednesday.
The central bank data also showed the performance BSI for February fell to 85 from 84 in January amid the rapid spread of the omicron variant and global supply chain disruptions, marking the second consecutive on-month decline.
The BOK survey was taken on 3,255 corporations across the nation between Feb. 8-15, with 2,784 companies responding. (Yonhap)
