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BOK: Consumer Sentiment Falls to 8-Month Low

Written: 2016-02-25 11:39:08Updated: 2016-02-26 10:25:06

Anchor: South Korea's consumer sentiment is falling to levels seen last June, when the spread of Middle East Respiratory Syndrome(MERS) undermined domestic spending. The central bank's monthly survey of households also showed that consumers' prospects for the economy six months from now deteriorated to the lowest point in seven years.
Our Kim In-kyung has more.
 
Report: Consumer confidence in South Korea, which had picked up due to government policies to boost private consumption, is shrinking again.
 
The Bank of Korea said Thursday that the consumer sentiment index for February was 98, two points lower than last month.
 
It is equal to the reading last June during the Middle East Respiratory Syndrome(MERS) outbreak and also marks the lowest index in eight months. 
 
It is considered that consumers generally have an optimistic outlook when the index exceeds 100 points and are pessimistic if the tally falls below the 100-mark.
 
By category, February's future economic outlook index, which measures perceived prospects for the economy six months from now, fell three points from the previous month to 75.

It is the lowest reading in almost seven years since recording 64 in March 2009.
 
The economic judgment index, which compares household perceptions of the current state of the economy to six months ago, also fell three points to a seven-month low of 65. 
 
Consumers' expected inflation rate for the next 12 months was two-point-five percent, remaining unchanged for the seventh consecutive month since August.
Kim In-kyung, KBS World Radio News.

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