8월 소비심리 전월비 하락...2017년 1월이래 최저
South Korean consumers appear to be losing confidence in the local economy.
The consumer sentiment index for August, based on a survey of 25-hundred households, fell to its lowest level in more than two years.
Kim Hyesung reports.
South Korea's consumer sentiment fell near three-and-a-half points on-month to 92-point-five in August.
According to the Bank of Korea, the index has fallen for a fourth consecutive month.
It's at the lowest level since January 2017, and its second lowest since the 2008 global financial crisis.
A reading below 100 means there are more pessimists than optimists about the local economy.
The central bank attributed the fall to Japan's export restrictions, the escalating U.S.-China trade dispute, sluggish exports, and a worsening stock market.
All six sub-indices that make up the consumer sentiment index dropped.
The sub-index on households' income outlook dropped two points to 94 for August, the lowest level since April 2009.
The sub-indices on current and future domestic economic conditions also declined to 63 and 66 respectively.
Inflation expectations fell to an all-time low of two percent.
The sharp fall in consumer confidence comes as Korean policymakers sound increasingly downbeat about the economy.
Bank of Korea governor Lee Ju-yeol had said last week the bank's two-point-two percent growth forecast for 2019 would not be achievable if exports and investment remain sluggish.
Kim Hyesung, Arirang News.
