S Korean consumer index drops to over 7 years low in Q2

SEOUL, June 25 (Xinhua) -- South Korea's consumer sentiment fell to the lowest mark in more than seven years in the April-June period as consumers gave a negative outlook for the South Korean economy amid soaring inflation, the South Korean central bank said Wednesday.

According to the survey by the Bank of Korea (BOK), the consumer survey index (CSI) -- a measure of consumers' overall sense of their economic outlook, living conditions and future spending -- dropped to 86 in the second quarter, compared with 105 in the first quarter.

The BOK said the index fell to the lowest since the fourth quarter of 2000 when the figure marked an identical 86. A figure below 100 means that pessimists outnumber optimists.

"Consumers had the negative assessment of the current living conditions due to rising prices and stagnant job growth.

"Furthermore, their outlook for the economy is not bright," the BOK said.

The index indicating consumer's economic outlook for the next six months fell to 52 in the second quarter from 96 in the first. The figure was the lowest since the third quarter of 1998 when the index reached 42, the BOK added.

Meanwhile, their outlook for consumer prices rose to 159 from 148 a quarter earlier, the BOK said. The April-June figure was thehighest since the third quarter of 2000 when the index stood at 159.

From June 2-13, the BOK surveyed 2,500 households in 30 major cities of South Korea to measure the consumers' sentiment.