Sentiment among South Korean businesses improved this month due to the government’s effort to reinvigorate industrial activity, central bank data showed Tuesday
SEOUL, (APP – UrduPoint / Pakistan Point News – 30th Jun, 2020 ):Sentiment among South Korean businesses improved this month due to the government’s effort to reinvigorate industrial activity, central bank data showed Tuesday.
The business sentiment index (BSI) came to 56 in June, up 3 points from the previous month, according to the Bank of Korea (BOK). The reading below 100 indicates pessimists outnumbering optimists.
It continued to rise for the second consecutive month, but it stayed below 58 tallied in March 2009 when the global financial crisis roiled the global economy.
The BSI for manufacturers added 2 points over the month to 51 in June, marking the first rebound in five months.
It came as the government unveiled a set of stimulus packages to financially support companies struggling with an economic fallout from the COVID-19 outbreak.
The BSI for non-manufacturers advanced 4 points from a month earlier to 60 in June, keeping an upward trend for two straight months.
The services industry was boosted by the government’s offer of relief grants to all households.
The results were based on a survey of 3,170 companies conducted from June 15-22.