Sat, 25 Sep 2021

S.Korea's consumer sentiment worsens in July

Xinhua
28 Jul 2021, 14:18 GMT+10

SEOUL, July 28 (Xinhua) -- Sentiment among South Korean consumers over the economic situation worsened this month amid the fourth wave of the COVID-19 outbreak, central bank data showed Wednesday.

The composite consumer sentiment index (CCSI) came in at 103.2 in July, down 7.1 points from the previous month, according to the Bank of Korea (BOK).

It marked the first decline this year as concern emerged about the fourth COVID-19 resurgence earlier this month.

In the latest tally, the country reported 1,896 more COVID-19 cases for the past 24 hours, lifting the total number of infections to 193,427.

It was the highest-ever daily caseload since the country's first case was found in January last year. The daily number of confirmed cases hovered above 1,000 for 22 days in a row.

Sub-indices lost ground. The CSI for current economic situation tumbled 12 points over the month to 82 this month, and the figure for future economic situation plunged 17 points to 92.

The government planned to maintain its toughest Level 4 social-distancing guideline in the Seoul metropolitan area for four weeks until Aug. 8 to contain the virus spread.

The toughened quarantine rules were forecast to roil the consumer spending, especially in offline stores.

Inflation expectations, which gauge outlook among consumers over headline inflation for the next 12 months, stood at 2.3 percent in July, unchanged from the prior month.

More South Korea News

Access More

Sign up for South Korea News

a daily newsletter full of things to discuss over drinks.and the great thing is that it's on the house!