August Consumer Sentiment Index Down to 104.5, Dropping for First Time in Four Months

[Economy 365]

Consumer sentiment fell for the first time in four months as the domestic stock market underwent a sharp correction.

According to the Bank of Korea, the Consumer Sentiment Index for August stood at 104.5, down 2.3 points from the previous month.

The index for current economic conditions fell by 5 points, and the future economic outlook dropped by 3 points.

The Bank of Korea explained that the perceived economic conditions worsened due to falling stock prices and cumulative price inflation.

The housing price outlook index also fell by 2 points from the previous month to 125, turning downward for the first time in five months.

It was analyzed that the government's real estate tax reform and housing supply measures had an impact.

However, the index remained above 100, indicating that more consumers expect housing prices to rise a year from now.

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