hankyoreh

As the novel coronavirus pandemic continues to wreck the global economy, South Korea’s consumer sentiment has hit its lowest level in 11 years. According to the Bank of Korea (BOK), Composite Consumer Sentiment Index (CCSI) fell to 78.4 for the month of March, the lowest level since it hit 72.8 in 2009. The country’s business sentiment index also fell to 38, 28 points lower than the previous month. The economic prospects index fell to 62, the lowest level since December 2008. Indicators across the board point to dismal economic conditions.