Confidence among South Korean consumers turned downward this month, reflecting the still weak consumer sentiment caused by the deadly ferry disaster, central bank data showed Friday.
Composite consumer sentiment index (CCSI) stood at 105 in July, down 2 points from a month earlier, according to the Bank of Korea (BOK).
The sentiment index stayed at 108 from February to April, but it declined to 105 in May after ferry Seowl sank off the country's southwestern coast on April 16.
The index rebounded to 107 in June before falling again to 105 in July, the first such downturn since November 2012 when the economy was believed to hit the bottom.
The accident, one of the country's worst maritime disasters, claimed 294 lives, mostly high school students, and 10 people were still missing. Consumers refrained from entertainment and travel.
Sub-indices showed pessimistic performance. Sentiment on current economic conditions decreased 4 points from a month earlier to 75 in July, dropping from 91 in April. The reading for prospective economic situations declined 6 points to 92.
Consumer sentiment on current living standards slid to 91 in July from 92 in June, with the figure for prospective living standards falling from 101 to 100 in the cited period.
Inflation expectations among consumers over the next 12 months stood at an annual rate of 2.8 percent in July, unchanged from the prior month.