SEOUL, Jan. 27 (Xinhua) -- Sentiment among South Korean businesses over the economic situation worsened in January due to the fade-out of year-end seasonality in the non-manufacturing sector, central bank data showed Tuesday.
The composite business sentiment index (CBSI) in all industries fell 0.2 points from a month earlier to 94 in January after rising for the past two months, according to the Bank of Korea (BOK).
The downturn was driven by the dissipation of the year-end seasonal effect in the non-manufacturing industry.
The CBSI among manufacturers gained 2.8 points to 97.5 in January compared to the previous month, but the index for non-manufacturers declined 2.1 points to 91.7.
The CBSI continued to stay below the long-term average of 100 amid the lingering economic uncertainties.
The result was based on a survey of 1,815 manufacturers and 1,440 non-manufacturers conducted between Jan. 12 and 19.
Manufacturers selected faltering domestic demand, economic uncertainty and fluctuations in the won versus dollar exchange rate as key barriers to doing business, while non-manufacturers picked weak consumer demand, uncertain economic situation and high labor cost.
The economic sentiment index (ESI), which reflects sentiment among both businesses and consumers, stood at 94 in January, up 0.5 points from a month earlier. ■