SEOUL, May 22 (Xinhua) -- Sentiment among South Korean businesses over economic situations improved for the third straight month, central bank data showed Wednesday.
The business survey index (BSI) in all industries added two points over the month to 73 in May, according to the Bank of Korea (BOK).
After bottoming at 68 in February, the index continued to rise to 69 in March, 71 in April and 73 in May.
The index, however, hovered below the long-term average of 77 amid the lingering economic uncertainties such as the faltering housing market.
The BSI among manufacturers inched up one point to 74 in May compared with the previous month, while the index for non-manufacturers, including construction companies, gained three points to 72.
The index below 100 indicates pessimists outnumbering optimists. It was based on a survey of 1,825 manufacturers and 1,444 non-manufacturers conducted between May 7 and 14.
Manufacturers selected sluggish domestic demand, economic uncertainty and higher raw material prices as key barriers to doing business, while non-manufacturers picked domestic demand slump, uncertain economic situations and higher labor costs.
The economic sentiment index (ESI), which reflects sentiment among both businesses and consumers, stood at 93.8 in May, down 0.7 points from the previous month. ■
