Overall business sentiment remained constant in May despite worsened sentiment for manufacturers thanks to the lifting of most social distancing measures, which boosted face-to-face industries.

According to the Bank of Korea on Wednesday, the business survey index(BSI) for all industries stood at 86 for May, remaining unchanged from last month.

A reading below 100 indicates that pessimists outnumber optimists on current business conditions.

The BSI for manufacturers shed one point to 86 compared to April while the same index for non-manufacturers, which includes restaurants, wholesalers and retail businesses, rose one point to 86.

The drop in the BSI for manufacturers resulted from a decline in demand and orders for metal, semiconductors and display manufacturing equipment due to China’s decision to lock down some of its major cities.

Meanwhile, local firms' business outlook for June rose one point to 87.