2023.09.2607:02:00UTC+00South Korea Consumer Confidence Weakens To 4-Month Low

South Korea's consumer sentiment weakened in September to the lowest level in four months, as households' current and future living conditions worsened, survey results from the Bank of Korea showed on Tuesday.

The consumer confidence index fell to 99.7 in September from 103.1 in August. This was the lowest reading since May 2022, when it was 98.0.

The consumer confidence survey was conducted between September 11 and 18, among 2,500 households.

The sub-index for households' assessment of the prospective living standards dropped to 92 from 95, and the measure for the current living standards dropped to 89 from 91.

Similarly, the index measuring consumers' prospective household income decreased to 99 to 100 in July.

South Koreans were less pessimistic about their job prospects and the relevant index dropped to 74.0 from 84.

Their interest rate expectations remained stable in September, and the measure came in at 99.0.

The expected inflation rate for the upcoming year was 4.1 percent versus 4.2 percent in August.

Households' expectations for the domestic economic conditions in the future weakened from 72 to 66.0.