Consumer Sentiment Deteriorates due to US Rate Hike

Write : 2015-12-24 09:21:51 Update : 2015-12-24 09:30:45

Consumer Sentiment Deteriorates due to US Rate Hike

Consumer sentiment has turned negative for the first time in six months due to an interest rate hike by the United States.

The Bank of Korea said Thursday that the composite consumer sentiment index was 103 in December, down three points from November.
 
After declining from 105 in May to 99 in June, the index had steadily risen in the following months.

A reading above 100 means consumers are more optimistic about the economy compared to the past.
 
The central bank believes consumer sentiment deteriorated as the survey was conducted just ahead of the U.S. Federal Reserve's rate increase. The BOK said, however, that it is too early to say that the recovery in consumption has weakened. 

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