May Business Sentiment Index Hits Highest Level in 3 Years and 7 Months

The Business Survey Index (BSI) for domestic companies in May was recorded at 98.9. This figure represents a 4.0-point increase from the previous month, marking the highest level in 3 years and 7 months since October 2022. The BSI is an indicator that surveys the current economic conditions felt by companies; a reading above 100 indicates optimism, while a reading below 100 suggests pessimism.

By industry, the manufacturing BSI in May rose 1.7 points from the previous month to 100.8, surpassing 100 for the first time since August 2022. The non-manufacturing BSI in May saw a 5.4-point increase from the previous month, reaching 97.5.

Companies anticipate the current economic improvement trend to continue into June. The forecast for the June BSI stands at 97.6.