October 28, 2023
According to Bank of Korea survey data, consumers’ current and prospective living situations worsened in October, causing consumer sentiment to decline to its lowest level in five months.
From 99.7 in September to 98.1 in October, the consumer confidence index decreased. Since May 2022, when the reading was 98.0, this was the lowest.
A poll on consumer confidence was carried out among 2,500 households between October 10 and October 17.
The measure for current living standards deteriorated to 88 from 89, and the sub-index for households’ view of anticipated living standards fell to 90 from 92.
In a similar vein, in October the index gauging consumers’ potential household income dropped from 99 to 98.
Source: RTT
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