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South Korea's Business Sentiment Improves to Over Three-Year High in May

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The composite business sentiment index in all industries in South Korea increased four points to 98.9 in May from 94.9 in April, while the outlook for the next month added 3.7 points to 97.6, according to data released by the Bank of Korea on Wednesday.

The latest print marked the highest in over three years.

The seasonally adjusted composite business sentiment index for the manufacturing sector added 1.7 points to 100.8, while the outlook for the following month also added 2.3 points to 100.3, the central bank said.

For the non-manufacturing sector, the seasonally adjusted composite business sentiment index increased 5.4 points to 97.5, while the outlook for the following month added 4.7 points to 95.9.

Meanwhile, the economic sentiment index, a composite of the business survey and consumer survey indices, went up 5.8 points to 97.5.

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