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S. Korea’s Consumer Confidence Slides for Second Straight Month
(MENAFN) South Korean consumer confidence weakened for a second consecutive month in October as anxiety over trade-related uncertainties persisted, Bank of Korea (BOK) data revealed Tuesday.
The Composite Consumer Sentiment Index (CCSI) slipped 0.3 points from September to 109.8, following a 1.3-point decline the previous month, the central bank said.
Analysts attributed the continued drop to unease surrounding ongoing trade negotiations between South Korea and the United States, as well as broader global trade risks.
While the sub-index tracking the current economic situation remained steady at 91, the gauge for economic outlook fell three points to 94, signaling weaker expectations among households.
Inflation expectations — measuring consumer forecasts for headline inflation over the next 12 months — edged up 0.1 percentage point to 2.6 percent in October. The rate had been trending lower since peaking at 4.7 percent in July 2022.
The findings were drawn from a survey of 2,274 households conducted between Oct. 14 and 21, according to the BOK.
The Composite Consumer Sentiment Index (CCSI) slipped 0.3 points from September to 109.8, following a 1.3-point decline the previous month, the central bank said.
Analysts attributed the continued drop to unease surrounding ongoing trade negotiations between South Korea and the United States, as well as broader global trade risks.
While the sub-index tracking the current economic situation remained steady at 91, the gauge for economic outlook fell three points to 94, signaling weaker expectations among households.
Inflation expectations — measuring consumer forecasts for headline inflation over the next 12 months — edged up 0.1 percentage point to 2.6 percent in October. The rate had been trending lower since peaking at 4.7 percent in July 2022.
The findings were drawn from a survey of 2,274 households conducted between Oct. 14 and 21, according to the BOK.
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