SEOUL, Oct. 26 (Xinhua) -- Sentiment among South Korean businesses over economic conditions worsened on the back of weaker domestic consumption, central bank data showed Thursday.
The business survey index (BSI) in all industries decreased 3 points over the month to 70 in October after improving in the previous month, according to the Bank of Korea (BOK).
The downturn was attributed to weaker consumer spending in addition to the lingering economic uncertainty, such as the continued export fall and the property market slump.
The BSI for manufacturers increased 1 point to 69 in the cited month, but the index for non-manufacturers dropped 6 points to 71.
The index below 100 indicates pessimists outnumbering optimists. It was based on a survey of 1,770 manufacturers and 1,395 non-manufacturers conducted between Oct. 10 and 17.
Manufacturers picked economic uncertainty, sluggish domestic demand and higher commodity prices as key barriers to doing business, while non-manufacturers highlighted economic uncertainty, domestic demand slowdown and higher labor costs.
The economic sentiment index (ESI), which reflects sentiment among both businesses and consumers, stood at 91.8 in October, down 0.9 point from the previous month. ■