Consumer sentiment in the country worsened for the second consecutive month in September.
According to the Bank of Korea(BOK) on Tuesday, the composite consumer sentiment index dropped three-point-four points on-month to stand at 99-point-seven in September, falling below the 100-point threshold for the first time in four months to indicate that pessimists outnumber optimists.
The index fell to its lowest since May, when it posted 98, on the back of sluggish exports and high price perception despite a recent slowdown in inflation, the BOK said.
Consumers’ outlook for housing prices increased three points on-month to 110, rising for the tenth consecutive month.
Expected inflation for the year ahead marked three-point-three percent in September, unchanged from the previous month.