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Financial News: South Korea Consumer Confidence Weakens Further

South Korea Consumer Confidence Weakens Further

11/22/2022 - 01:39:00 (RTTNews)

(RTTNews) - South Korea's consumer confidence weakened for the second successive month in November, survey results from the Bank of Korea showed on Tuesday.

The consumer confidence index fell to 86.5 in November from 88.8 in the previous month.

Among sub-indicators, the index measuring current living standards remained unchanged at 83.0 in November, while that concerning the future outlook dropped by two points to 82.0.

The index measuring future household income decreased one point to 93, while that concerning future household spending lost three points to 107.

The survey showed that household sentiment concerning the current domestic economic situation was one point lower than in October, at 46, and that concerning future economic conditions was two points lower than in the previous month, at 54.

The inflation for the coming year is seen at 4.2 percent. The survey was conducted among 2,500 households between November 8 and 15.

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