Consumer sentiment drops in Oct. on stock market correction, Mideast tensions
Consumer sentiment fell in October due mainly to a stock market correction and prolonged Middle East tensions, the central bank said Tuesday. The composite consumer sentiment index (CCSI) stood at 105.4 this month, down 1.2 points from September, according to a survey by the Bank of Korea (BOK). A reading above 100 indicates that optimists outnumber pessimists, while a figure below 100 suggests…
In October, consumer sentiment declined due to a stock market correction and ongoing Middle East tensions, according to the central bank. The composite consumer sentiment index (CCSI) for the month was 105.4, a 1.2-point decrease from September, a survey by the Bank of Korea revealed. A value above 100 indicates more optimists than pessimists, while below 100 signifies the opposite.
The BOK attributed increased pessimism to the stock market correction and prolonged military tensions in the Middle East, which negatively impacted consumer sentiment. The subindex measuring individuals' assessment of current economic conditions dropped to 82 in October, a 1-point decline from the previous month. Similarly, the index gauging people's outlook for future economic conditions fell by 2 points to 88 over the same period.
The KOSPI, a key benchmark, plummeted 15.7 percent during the first three weeks of October, reflecting renewed concerns about large-scale artificial intelligence (AI) infrastructure investments. The BOK survey encompassed 2,500 households from October 13-20.
Written by urgent.news from The Korea Times's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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