InfoAnda - South Korea Dec consumer sentiment at a decade low

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Navigation Primary Navigation Home Singapore Asia Pacific World Business Entertainment Sports Technology Top Stories Most Popular Secondary Navigation Singapore Asia Pacific World Search Search: South Korea Dec consumer sentiment at a decade low Reuters - Monday, December 29 SEOUL, Dec 29 - South Korean consumer sentiment tumbled to a 10-year low in December as the deepening economic downturn chilled job markets and cut household incomes, the central bank said on Monday. The Bank of Korea's consumer sentiment index, which measures sentiment in six categories, fell to 81 in December, its lowest since the last quarter of 1998 when it touched 80. A reading below 100 indicates most consumers are pessimistic. In November, the reading was 84. The latest data indicated South Korean households turned more pessimistic about the economic outlook and planned to cut back on spending. South Koreans even planned to cut back on children's education, an area that had been seen as less vulnerable to economic cycles. "In particular, the number of consumers planning to reduce expenditures on durable goods, clothes and travel increased sharply. The index for spending on education also fell below 100," the Bank of Korea said in a statement. The index had been compiled quarterly before the central bank started producing it on a monthly basis from September to better reflect the rapid changes in economic conditions. It surveyed 2,200 households in 56 cities between Dec. 12 - 19. Consumer sentiment towards the interest rates outlook edged up to 93 in December from 92 a month before, snapping the four consecutive months of falls and suggesting more South Koreans expect interest rates to turn higher. Email Story IM Story Printable View Blog This Recommend this article Average (0 votes) Sign in to recommend this article » Most Recommended Stories » Related Articles: Business Japan Hot Stocks-NEC, Nissan, Fujitsu, insurersReuters - 19 minutes ago SNAPSHOT - Financial Crisis - 1600 GMTReuters - 20 minutes ago Japan's Nakagawa says watching forex market with alarmReuters - 20 minutes ago Mitsui S'tomo Insurance up 9% on merger talk newsReuters - 20 minutes ago Nikkei down 0.2 pct, insurers seen up on merger newsReuters - 49 minutes ago Most Popular – Business Viewed Actress Jennifer Aniston appears naked in GQ magazine Woolworths to close quarter of stores Chances of gas cut '50-50', Russia warns Ukraine At least 210 dead as Israel hammers Hamas-run Gaza Stars of Hollywood, high-tech open wallets for Obama party View Complete List » Search: Home Singapore Asia Pacific World Business Entertainment Sports Technology Top Stories Most Popular

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