The country’s business sentiment worsened for the second straight month in August amid sluggish domestic demand and growing uncertainties in the global economy. 

According to the Bank of Korea on Wednesday, the Business Survey Index(BSI) for all industries stood at 92-point-five in August, down two-point-six points from the previous month. 

A reading below 100 indicates that pessimists outnumber optimists.

The BSI for manufacturers dropped two-point-nine points month-on-month to reach 92-point-eight in August. 

The index for non-manufacturing industries, which includes restaurants, wholesalers and retail businesses, fell two-point-four points to 92-point-two.

The central bank attributed the fall to the hesitant recovery in domestic demand and the rise in global economic uncertainties amid concerns over a possible recession in the U.S.