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Business Sentiment Worsens for Second Month in February

Written: 2022-02-23 08:32:16Updated: 2022-02-23 09:35:13

Business Sentiment Worsens for Second Month in February

Photo : YONHAP News

Business sentiment worsened for the second consecutive month in February due to the rapid spread of the omicron variant.

According to the Bank of Korea on Wednesday, the business survey index(BSI) for all industries stood at 85 for February, down one from the previous month.

The sub-100 reading indicates that pessimists outnumber optimists.

The index dropped for two straight months after rising to 87 in December. The central bank attributed the worsened BSI to the rapid spread of the omicron variant and supply chain disruptions.

The BSI for manufacturers rose one point on-month to 91 in February. The BSI for non-manufacturers, which includes restaurants, wholesalers and retail businesses, slipped two points to 81.

Meanwhile, local firms' business outlook for March rose by three points on-month to 88.

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