SEOUL, April 4 (Yonhap) — South Korean manufacturers’ business sentiment has improved sharply, hitting an over 6-year high, amid hopes that the economy may recover from the coronavirus pandemic faster than expected, a poll showed Sunday.
A survey of some 2,200 manufacturing firms put the business sentiment index (BSI) at 99 for the April-June period, the Korea Chamber of Commerce and Industry (KCCI) said.
The figure is up 24 points from the previous quarter and at the highest level since the third quarter of 2014.
A reading below 100 means companies expecting worsening business conditions outnumber those that anticipate improvements.
The chamber cited the rise in business sentiment on expectations for economic recovery across the globe.
The outlook for exports stood at 109 for the current quarter, up 27 points from the prior quarter, and the forecast for domestic demand also spiked 24 points to 97.
Asia’s fourth-largest economy is recovering on the back of robust exports. The country’s overseas shipments grew 16.6 percent on-year in March, and industrial output rose at the fastest clip in eight months in February.