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Confidence among South Korean consumers over economic situation weakened to the lowest in six months on worries about economic slowdown in China, South Korea's largest trading partner, central bank data showed Wednesday.
The composite consumer sentiment index (CCSI) fell 2 points from a month earlier to 100 in January, according to the Bank of Korea (BOK).
It was the lowest since July last year when the Middle East Respiratory Syndrome (MERS) outbreak forced consumers to refrain from going shopping and visiting places crowded with people for fear of contagion.
The decline reflected pessimistic views among consumers about the export-driven South Korean economy, which relies on exports for about half of its growth. Economic slump in China, South Korea' s No.1 trade partner, would have a negative impact on the economy.
The expected continuation of interest rate hike in the United States also left consumers worried about volatility in the financial market. The U.S. central bank began its first rate hike in about a decade in December last year, while holding its first monetary policy meeting for 2016 this week.
Sub-indices showed a gloomy picture. The index on current economic conditions tumbled 7 points from a month earlier to 68 in January, the lowest in six months. The reading on prospective economic situations shrank 6 points to 78, posting the lowest in about four years.
Inflation expectations, which gauge consumers' outlook for headline inflation in the next 12 months, remained flat at 2.5 percent for six months in a row.
