S. Korea's Consumer Sentiment Dips to 15-Month Low in July

Write : 2018-07-25 09:20:44 Update : 2018-07-25 13:15:37

S. Korea's Consumer Sentiment Dips to 15-Month Low in July

South Korea's consumer confidence dropped to a 15-month low in July due to an intensifying trade dispute between the U.S. and China. 

According to the survey by the Bank of Korea(BOK) on Wednesday, the composite consumer sentiment index(CCSI) for this month stood at 101, down four-point-five points from the previous month. 

That's the lowest level since April last year when it marked 100-point-eight and also represents the sharpest on-month drop in 20 months since November 2016. 

The BOK attributed the drop to a lack of any positive factors amid sluggish economic data and concerns over a full-blown trade war between the U.S. and China and the growing U.S.-European Union trade dispute. It also cited the possible imposition of auto tariffs by the Trump administration as another reason for the fall. 

The central bank said its index measuring people's sentiment regarding current economic conditions dropped seven points to 77 in July, while the public's assessment of overall economic conditions for the next six months slid to 87 from 96. 

A reading above 100 means optimists outnumber pessimists.

[Photo : YONHAP News]

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