South Korea’s business sentiment worsened for the second consecutive month in July amid uncertainties from U.S. tariffs.

According to the Bank of Korea on Thursday, the Business Survey Index(BSI) for all industries stood at 90 in July, down zero-point-two points from the previous month. 

A reading below 100 indicates that pessimists outnumber optimists.

The BSI for manufacturers slipped two-point-five points on-month to 91-point-nine in July.  

The index for nonmanufacturing industries, which includes restaurants, wholesalers and retail businesses, increased one-point-three points and posted 88-point-seven.

The BSI for August dropped by one point from the previous month, hitting 88-point-four.