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Consumer Sentiment Continues to Shrink in the Wake of Ferry Accident

세월호 여파, 소비심리 위축
Consumer Sentiment Continues to Shrink in the Wake of Ferry Accident
 
Consumer sentiment in Gwangju and Jeollanamdo sank to its lowest point in May as the sinking of the passenger ship, Sewol continued to hurt consumer sentiment.
According to the Bank of Korea and its Gwangju and Jeollanamdo Branch, the consumer Sentiment Index or CSI reached 100 this month in Gwangju and Jeollanamdo compared with 102 in April.
May’s figures are the lowest since 102 in September of 2013 when the index fell by 3 points.
The monthly index is a barometer of consumers’ overall economic outlook, living conditions, and future spending and a reading of above 100 means that optimists outnumber pessimists.
The survey, based on a poll of some 2,000 households nationwide, was conducted from May 13th to the 20th. Consumer sentiment has taken a hit following the ferry accident as consumers have refrained from shopping and provincial governments have called off regional festivities.
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