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S. Korea's consumer sentiment worsens in November

0 Comment(s)Print E-mail Xinhua, November 26, 2024
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SEOUL, Nov. 26 (Xinhua) -- South Korea's consumer sentiment worsened this month on growing external uncertainty, central bank data showed Tuesday.

Composite consumer sentiment index, which gauges the sentiment of consumers over economic situation, fell 1.0 point over the month to 100.7 in November after mounting 1.7 points in the previous month, according to the Bank of Korea.

The downturn was attributed to rising external uncertainties after the U.S. presidential elections in addition to slower export growth.

The country's export added 4.6 percent in October from a year earlier after surging 13.5 percent in July, 11.0 percent in August and 7.5 percent in September.

The sub-index for current economic situation declined three points to 70 in November compared to the previous month, while the index for economic outlook tumbled seven points to 74.

Inflation expectations, which measure the outlook among consumers over headline inflation for the next 12 months, stood unchanged at 2.8 percent in November on a monthly basis.

After peaking at 4.7 percent in July 2022, inflation expectations had roughly been on the decline.

The results were based on a survey of 2,275 households conducted from Nov. 12 to Nov. 19. Enditem

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