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Korea's business sentiment dipped to the lowest in 17 months in July, with companies bracing for rising inflation amid recession woes, a central bank poll showed Thursday.

The business sentiment index (BSI) came to 80 for July, down two points from the previous month, according to the survey by the Bank of Korea (BOK).

The tally is the lowest reading since 76 in February, 2021.

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