South Korea: South Korea's business sentiment remains pessimistic for May, a poll showed Wednesday, amid growing risks associated with global trade. The business survey index (BSI) of the country's top 600 companies by sales stood at 85 for next month, according to the monthly poll by the Federation of Korean Industries (FKI).
According to Yonhap News Agency, a reading below 100 means pessimists outnumber optimists, while a figure above the benchmark means the opposite. The index has remained below 100 for 38 consecutive months since April 2022. The BSI for the manufacturing sector came to 79.2 for May, while the index for nonmanufacturing was recorded at 90.8.
Among nonmanufacturing industries, all but the restaurant and lodging sectors anticipated weakened confidence for May. Most manufacturing industries also anticipated negative sentiment except those involving pharmaceuticals and foodstuff products.
"International trade uncertainty is significantly increasing due to the tariff policies of the United States and response measures from major countries," an FKI official said.