SEOUL, – South Korea’s business sentiment fell for November amid a slump in private spending, a central bank poll showed Thursday.

Local companies’ business sentiment index (BSI) stood at 69 for the coming month, down from 73 the previous month, according to the survey by the Bank of Korea.

The index measures corporate prospects for business conditions the following month. A reading below 100 means pessimists outnumber optimists.

The central bank said business sentiment fell for next month as domestic demand is expected to remain weak although some parts of the manufacturing sector show signs of a recovery in earnings.

The BSI for manufacturers came to 69 for November, up 2 points from the previous month. The index for nonmanufacturing firms fell 8 points over the same period to 69.

The actual BSI for October came to 70, down 3 points from September.

The survey was conducted on 3,524 firms, including 1,956 manufacturers, from Sept. 12 to 19.

Source: Yonhap News Agency