SEOUL, Aug. 24 (Yonhap) — South Korea’s consumer sentiment dipped in August over a spike in COVID-19 infections, marking the second consecutive monthly decline, central bank data showed Tuesday.
The composite consumer sentiment index (CCSI) came in at 102.5 for August, down 0.7 point from the previous month, according to the data from the Bank of Korea (BOK).
A reading above 100 means optimists outnumber pessimists.
The latest reading marks the second monthly decline since June, when the index stood at 110.3
The nation’s daily new infections have stayed above 1,000 for about seven consecutive weeks, with the highly contagious delta variant becoming a dominant strain of COVID-19.
The delta variant is behind a recent spike in the nation’s COVID-19 infections in Seoul and its neighboring areas, while showing signs of spreading much faster outside the greater Seoul region.
The subindex for people’s assessment of current economic conditions stood at 77 in August, down from 82 in July, while the index gauging people’s sentiment toward future economic conditions reached 90 this month, down from 92 in July.