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S. Korea's Consumer Sentiment Drops for First Time This Year

Written: 2021-07-28 08:58:48Updated: 2021-07-28 09:45:49

S. Korea's Consumer Sentiment Drops for First Time This Year

Photo : KBS News

Consumer sentiment worsened in July as the country grapples with a surge in COVID-19 cases. 

According to the Bank of Korea(BOK) on Wednesday, the composite consumer sentiment index(CCSI) came in at 103-point-two for July, down seven-point-one points from a month earlier. 

It marks the first drop this year after the index grew for six straight months since December.

A reading above 100 means optimists outnumber pessimists. 

A BOK official said that consumer confidence had improved on the back of ongoing COVID-19 vaccinations and robust exports, but suffered a drop in July due to the surge in infections. 

All six indexes comprising the CCSI dropped from a month earlier. 

The index gauging people's assessment of the current economy and people's future outlook on the economy both fell by over ten points in July from the previous month.

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