S. Korea’s consumer sentiment slumps in August – data

South Korea’s Composite Consumer Sentiment Index (CCSI) weakened in August by 2.8 points to 100.8 from July, according to the Bank of Korea‘s (BOK) latest data on Tuesday.

Consumers expressed less optimism about their current living standards, with the corresponding index dropping one point to 90. Similarly, the outlook for the future also declined by one point to 94.

Household finances also saw a downturn in sentiment. Expectations for future household income decreased by two points to 98, while anticipated household spending fell by two points to 109.

The broader economic outlook also turned pessimistic. Consumer sentiment regarding current domestic economic conditions dropped by four points to 73, and the outlook for future domestic economic conditions was also lower.

Attribution: Bank of Korea report

Subediting: M. S. Salama