Sentiment among South Korean consumers over economic situations worsened for two straight months due to the COVID-19 resurgence here, central bank data showed Tuesday.

The composite consumer sentiment index (CCSI) stood at 102.5 in August, down 0.7 points from the previous month, according to the Bank of Korea.

It continued to slide for the second consecutive month as the pandemic has resurged here since early July. In the latest tally, the country has reported 1,509 more cases of COVID-19 for the past 24 hours, staying above 1,000 for 49 days in a row.

The government planned to maintain its toughest social-distancing scheme in the Seoul metropolitan area for eight weeks until Sept. 5, hitting hard microbusiness owners and the self-employed.

Sub-indices lost ground. The prospective index for future economic situation slipped two points from a month earlier to 90 in August, and the index for current economic conditions retreated five points to 77.

The index for consumer spending fell one point to 107, but the reading for household income added one point to 99.

Inflation expectations, which gauge outlook among consumers over headline inflation for the next 12 months, stood at 2.4 percent in August, up 0.1 percentage point from the prior month.

Source:
courtesy of XINHUA NEWS AGENCY

by XINHUA NEWS AGENCY

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