S. Korea's consumer sentiment worsens on COVID-19 resurgence

Source: Xinhua| 2020-09-25 17:34:12|Editor: huaxia

SEOUL, Sept. 25 (Xinhua) -- Sentiment among South Korean consumers over economic situations worsened in five months due to the COVID-19 resurgence here, central bank data showed Friday.

The composite consumer sentiment index (CCSI) stood at 79.4 in September, down 8.8 points from the prior month, according to the Bank of Korea (BOK). It was the first decline in five months since April.

It came as the government tightened social-distancing guidelines amid the COVID-19 resurgence.

In the latest tally, the country reported 114 more COVID-19 cases for the past 24 hours, raising the total number to 23,455.

The daily caseload stayed above 100 for three straight days due to the continued cluster infections in Seoul and its surrounding Gyeonggi province traceable to church services and a massive rally held in central Seoul on Aug. 15.

People refrained from outside activities such as shopping and eating out, weakening consumer spending and hitting hard the services industry.

Inflation expectations, which gauge outlook for headline inflation for the next 12 months, stood at 1.9 percent in September, up 0.1 percentage point from the previous month. Enditem