South Korea's consumer sentiment slipped again in January,... after falling in December following a seven-year-high set in November.
Kim Hyesung has the details.
South Korea's consumer sentiment fell for a second consecutive month, recording a three-month low in January.
The Bank of Korea says the composite consumer sentiment index dropped to 109-point-nine in January, down zero-point-seven from the previous month.
It attributed the fall to rising global oil prices, a strengthening Korean won against the U.S. dollar, as households become more concerned about the nation's economic conditions.
Expectation for income outlook hit a record high thanks to sharp minimum wage hike that went into effect this January.
But expectation on job outlook fell to a low not seen since the Moon Administration took office last May.
The index continued to go up for six straight months between February and July, fell in the summer due to North Korea tensions, then bounced back in October and November.
The index marked a turn, falling in December.
However, January's reading is still above 100, meaning more consumers are more optimistic than pessimistic about how the economy will fare in the coming months.
Expectation for the inflation rate over the next twelve months edged up zero-point-one percent, recording two-point-six percent.
Kim Hyesung, Arirang News.