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Korea’s July consumer sentiment climb sharply softens while hitting highest since Jan 2011

Collected: 2017.07.25

Distributed: 2017.07.26

Source: Go Direct

South Korea’s composite consumer sentiment index (CCSI) climbed for the sixth straight month in July to reach the highest level since January 2011, but sharply lost steam as domestic demand remained sluggish regardless of robust exports.

According to the Bank of Korea (BOK) on Tuesday, the CCSI for July reached 111.2, up 0.1 percentage point, significantly softening from gains of 3.1 percentage points in June, 6.8 in May, and 4.5 in April. A reading over 100 indicates that consumers are more positive than negative about the economy.

Korean consumer sentiment rebounded from February and since kept northbound.

“The pace of climb amid high expectations for the new government has started moderating,” the BOK said.

By Kim Gyu-sik

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