South Korea Consumer Confidence Weakens In May

(RTTNews) - South Korea's consumer sentiment decreased in May to the lowest level in six months, survey results from the Bank of Korea showed on Tuesday.

The consumer confidence index dropped to 98.4 in May from April's stable score of 100.7.

Further, this was the weakest reading since November 2023, when it was 97.3.

The consumer confidence survey was conducted between May 7 and 14 among 2,313 households.

The sub-index for households' assessment of current living standards dropped to 88 from 89 in April. Their prospective living standards also worsened, with the respective index falling to 92 from 94.

Similarly, the index measuring consumers' prospective household income decreased from 99 to 97.

Consumers' interest rate expectations increased in May, with the measure climbing to 104 from 100.

The expected inflation rate for the upcoming year was 3.2 percent, up from 3.1 percent in April.