SEOUL, Jan. 27 (Xinhua) -- Sentiment among South Korean businesses over economic situations kept falling for the fifth consecutive month in January due to lingering worry about economic uncertainty, central bank data showed Friday.

The business survey index (BSI) in all industries retreated 5 points from a month earlier to 69 in January, according to the Bank of Korea (BOK). It was the lowest in 28 months since September 2020.

It continued to slide since last September as concerns mounted over economic slump caused by rapid interest rate hikes at home and abroad.

The BOK began to tighten its monetary policy stance in August 2021, raising its key rate from a record low of 0.50 percent to 3.50 percent.

The BSI among manufacturers sank 5 points over the month to 66 in January, and the index for non-manufacturers declined 5 points to 71.

The index below 100 indicates pessimists outnumbering optimists. It was based on a survey of 1,636 manufacturers and 1,103 non-manufacturers conducted between Jan. 10 and 17.

Manufacturers picked economic uncertainties, higher commodity prices and weak domestic demand as key barriers to doing business, while non-manufacturers selected uncertain economic situation, higher labor costs, and domestic demand slowdown.

The economic sentiment index (ESI), which reflects sentiment among both businesses and consumers, stood at 90.1 in January, down 1.4 points from the previous month. Enditem

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