South Korean firms’ business sentiment worsened for the second consecutive month in February.

According to the Bank of Korea(BOK) on Wednesday, the nation’s business survey index(BSI) for February came to 77, down one point from January.

The monthly index increased in November and December but then dropped for two straight months.

The BSI measures corporate confidence. A figure of more than 100 means the majority of firms have a positive outlook for the economy.

The BSI for manufacturers reached 75, down two points from a month ago. It is the lowest recorded figure since it marked 75 in January last year.

The index for large companies dropped from 85 to 83, while the BSI for small manufacturers grew by one point to 64.