S.Korea's consumer confidence worsens for 2 months on geopolitical risks

Source: Xinhua| 2017-09-26 16:23:52|Editor: ying
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SEOUL, Sept. 26 (Xinhua) -- Confidence among South Korean consumers in their economy worsened for two months amid rising geopolitical risks on the Korean Peninsula, central bank data showed Tuesday.

The composite consumer sentiment index (CCSI) stood at 107.7 in September, down 2.2 points from a month ago, according to the Bank of Korea (BOK). It was the second monthly fall after sliding 1.3 points in August.

Before turning downward, the consumer confidence had risen for six months on expectations for the launch of the new South Korean government under President Moon Jae-in.

The sentiment turned sour as the DPRK traded harsh rhetoric with the United States and conducted its sixth nuclear test and other missile launch provocations.

On Sept. 3, Pyongyang detonated what it claimed was a hydrogen bomb that can be loaded onto a ballistic missile with intercontinental capability.

U.S. President Trump threatened in his maiden UN speech last week to "totally destroy" the DPRK, and in turn, top DPRK leader Kim Jong Un warned Washington of the highest-level hardline countermeasure in history.

The CCSI result was based on a survey of 2,013 households conducted from Sept. 12 to Sept. 19.

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