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S. Korea's business confidence improves for 2 straight months

Xinhua, April 29, 2016 Adjust font size:

Confidence among South Korean businesses improved for two straight months, boosting expectations for economic recovery, central bank data showed on Friday.

Business sentiment index (BSI) for manufacturers stood at 71 in April, up 3 points from the previous month, according to the Bank of Korea (BOK).

The April figure was the highest in six months, keeping the growth trend for two months in a row.

The figure fueled hopes for economic recovery as the result came after enhanced consumer confidence for two straight months.

However, the reading below 100 means that pessimists still outnumbered optimists, making it hard to see the economy from an overly optimistic perspective.

The reading was based on a survey of 2,898 manufacturers and non-manufacturers conducted on April 15-22.

Prospective BSI for manufacturers stood at 73 in May, up 3 points from a month ago. Manufacturers picked weak domestic demand as the biggest difficulty in doing business.

The BSI for non-manufacturers rose 2 points from a month earlier to 70 in April, keeping a growth trend for two straight months. Endit