biz outlook-May

biz outlook-May

Biz outlook edges up for May on hope for domestic recovery

SEOUL, April 27 (Yonhap) -- South Korea's business sentiment slightly improved for May amid expectations that domestic demand may improve, a central bank poll showed Thursday.

Local companies' business sentiment index (BSI) for April came to 74, up from 73 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 private spending may rebound down the road.

The BSI for manufacturers stood at 72 for May, up 3 points from the previous month. The index for nonmanufacturing firms was also up 1 point at 76 over the same period to 74, the data showed.

Meanwhile, the current BSI for April remained flat at 70 from the previous month, as a slump in the chip sector continued.

"The BSI for smaller firms and domestic demand-focused companies are improving, while exporters' BSI remained sluggish," an official at the central bank said.

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