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S. Korea's Consumer Sentiment Falls to 11-Year Low in April

Written: 2020-04-28 08:32:12Updated: 2020-04-28 10:13:18

S. Korea's Consumer Sentiment Falls to 11-Year Low in April

Photo : YONHAP News

South Korea's consumer sentiment plunged to the lowest in more than a decade in April amid the COVID-19 pandemic.

According to the Bank of Korea on Tuesday, the country's composite consumer sentiment index came to 70-point-eight during the month, down seven-point-six points from a month earlier. 

 A reading below 100 means pessimists outnumber optimists.

The April reading marks the lowest since December 2008 during the global financial crisis, when the figure marked 67-point-seven.

The central bank said that the country saw drops in indices indicating the state of the domestic economy as well as the financial situation of households due to the continued global spread of the coronavirus.

A subindex measuring people's sentiment toward consumption in the future slipped six points to 87, the lowest since July 2008 when the nation started compiling related data. 

A subindex measuring people's sentiment toward current economic conditions tumbled seven points to 31, while the subindex measuring people's sentiment toward future economic conditions also slipped three to 59. Both figures marked the lowest since December 2008.

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