SEOUL, June 26 (Xinhua) -- Sentiment among South Korean consumers worsened on rising concerns about unilateral U.S. protectionist moves that can lead to a global trade war, central bank data showed Tuesday.
The composite consumer sentiment index stood at 105.5 in June, down 2.4 points from a month earlier, according to the Bank of Korea (BOK).
It was the biggest monthly fall since November 2016. The index above 100 means optimists outnumber pessimists.
The decline came on growing worry about the U.S. protectionist moves. The Trump administration launched a probe into the implications of automobile and auto parts imports to the U.S. national security that can result in imposition of as high as 25 percent of tariffs on imported cars and auto parts.
The U.S. government imposed duties of 25 percent on steel imports and 10 percent on aluminum imports in March in the name of national security. It would lead to retaliations from foreign governments, stoking a global trade war and disrupting an international trading order, observers say.
The weakening of labor market conditions also contributed to the slumping consumer sentiment. South Korea's job growth hit the lowest in almost eight and a half years in May on a year-over-year basis.
Expectations for consumer price inflation, which reflect outlook among consumers for headline inflation in the next 12 months, was unchanged at 2.6 percent in June from the previous month.
