Biz outlook improves slightly for March amid expectations for rebound in spending

This March 23, 2022 file photo shows people passing by a building of Bank of Korea, Seoul. Yonhap

Korea's business sentiment slightly improved for March amid expectations that eased coronavirus curbs will bolster spending, a central bank poll showed Wednesday.

Local companies' business sentiment index (BSI) for February came to 71, up 3 points from what was tallied for the previous month, according to the survey by the Bank of Korea (BOK).

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 eased virus-related restrictions could bolster spending and earnings for businesses.

The BSI for manufacturers stood at 66 for March, up 1 point from the previous month. The index for nonmanufacturing firms was also up 4 points over the same period to 74, the data showed. (Yonhap)