SEOUL, Aug. 5 (UPI) -- South Korea's consumer confidence dipped to a 43-month low in July, threatening the long-awaited revival of domestic consumption, data showed Thursday.
The consumer expectation index fell to 89.6 in July from 92.2 in June, the lowest since December 2000 and the third consecutive monthly decline, the National Statistical Office said.
The index is a key gauge of how consumers feel about the prospects for the economy and how they plan future spending, A reading below 100 means consumers expecting the economy and living standards to get worse in the next six months outnumber those expecting an improvement.
The index for future standards of living also tumbled to a 43-month low of 93.2, the NSO report said.
The drop in the consumer confidence index comes as a fresh blow to the economy, which has been struggling since a consumer credit bubble burst last year, leaving households mired in debt.
