Dec. 24 (Asia Today) -- Consumer sentiment in South Korea fell sharply in December, posting its steepest monthly decline in a year as households grew more concerned about rising prices and exchange rate volatility, central bank data showed Tuesday.
According to the December Consumer Trend Survey released by the Bank of Korea, the Consumer Sentiment Index stood at 109.9, down 2.5 points from November's 112.4. The drop marked the largest month-on-month decline since December 2022.
The index had risen 2.6 points in November on optimism tied to the conclusion of tariff negotiations and stronger-than-expected third-quarter economic growth, but reversed course just one month later.
The Consumer Sentiment Index is derived from six components: current living conditions, outlook for living conditions, household income outlook, consumer spending outlook, assessment of current economic conditions and outlook for future economic conditions. Readings above 100 indicate optimism, while values below 100 signal pessimism.
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