Business sentiment improved this month as the COVID-19 situation stabilized amid the rising rate of vaccinations. 

According to the Bank of Korea(BOK) on Friday, the business survey index(BSI) for all industries stood at 86 for October, up two from the previous month.  

A reading below 100 means pessimists outnumber optimists.   

The BSI for manufacturers remained unchanged from the previous month at 90. 

However, the BSI for non-manufacturers, which includes restaurants, wholesalers and retail businesses, jumped by five on-month to 84, the highest since May 2018. 

A BOK official explained that the manufacturing sector in general remains affected by supply issues, while the recent fall in COVID-19 infections and rising vaccination rate boosted business sentiment in the service sector. 

Meanwhile, local firms' business outlook for November also marked 86.