The business survey index (BSI) for manufacturers stood at 73 in May, up 3 points from the prior month, according to the Bank of Korea (BOK).
It reflected expectations for the earnings recovery of major manufacturers later this year, which offset the continued worry about economic uncertainty.
The BSI among non-manufacturers increased 4 points from a month earlier to 78 in May.
Outdoor activities increased in springtime, also affected by the lifting of measures against the COVID-19 pandemic.
The BSI in all industries advanced 4 points to 76 in the cited month.
The index below 100 indicates pessimists outnumbering optimists. It was based on a survey of 1,675 manufacturers and 1,137 non-manufacturers conducted between May 9 and 16.
Manufacturers picked economic uncertainty, domestic demand slump and commodity price hikes as key barriers to doing business, while non-manufacturers selected uncertain economic situations, domestic demand slowdown and higher labor costs.
The economic sentiment index (ESI), which reflects sentiment among both businesses and consumers, stood at 94.2 in May, up 0.4 points from the previous month.
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