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BUSINESS SENTIMENT IN S KOREA UP IN MARCH.
SEOUL, March 2 Asia Pulse - South Korea's business sentiment among manufacturers rose for a second month in March, reflecting strong hopes of an economic recovery, the central bank said Wednesday.
The business survey index (BSI) measuring corporate expectations of the nation's economic health increased to 87 in March, up from 73 in February and 69 in January, the Bank of Korea (BOK) said in a report.
"The sharp rise in March reflects businesses' high anticipation of an economic recovery," the report said.
A rise in the index indicates that more respondents showed a positive outlook. As the number remained beneath the benchmark 100, however, pessimists still outnumbered optimists.
The "expectation" index fell for a third month in January as Asia's third-largest economy stayed locked in a slump due to weak domestic demand and cooling exports.
Economic growth in South Korea slowed to 4.6 per cent in the third quarter of last year from 5.5 per cent in the second quarter, reflecting the effects of a two-year slump.
However, the index began to rise in February after a series of reports indicated that domestic consumption was showing signs of recovery.
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Source: HighBeam Research, BUSINESS SENTIMENT IN S KOREA UP IN MARCH.