2023.11.2805:52:00UTC+00South Korea Consumer Confidence Falls To 97.2, Lowest In 7 Months

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

The consumer confidence index fell to 97.2 in November from 98.1 in October. This was the lowest reading since April 2022, when it was 95.1.

The consumer confidence survey was conducted between November 10 and 17 among 2,500 households.

The sub-index for households' assessment of current living standards dropped to 87 from 88, while the measure for prospective living standards remained stable at 90.0.

Similarly, the index measuring consumers' prospective household income held steady at 88.0.

South Koreans were slightly less pessimistic about their job prospects, and the relevant index dropped to 77 from 78.

Their interest rate expectations decreased in November, with the measure falling to 119 from 128.

The expected inflation rate for the upcoming year was 3.4 percent, which was unchanged from October.

Meanwhile, households' expectations for domestic economic conditions in the future improved from 70 to 72.