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Biz outlook slightly improves for March amid expectations for rebounding spending

Economy 06:00 February 22, 2023

SEOUL, Feb. 22 (Yonhap) -- South 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.


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