SEOUL, Oct. 13 (Korea Bizwire) — Slightly fewer South Koreans now think that they will be better off in the future amid the sluggish pace of recovery in Asia’s fourth-largest economy, a survey showed Friday.
According to the poll conducted by Gallup Korea between Tuesday and Thursday, 22 percent of the 1,500 respondents said their livelihoods will improve within the next one year, down 2 percentage points from a month earlier.
It also said 57 percent of those that answered the poll believed their living conditions will remain the same, while 20 percent thought they will be worse off.
The result came as some economic data showed that South Korea’s economic recovery momentum has remained weak due to a prolonged slump in private consumption.
Consumer sentiment dropped for two straight months to a five-month low of 107.7 in September, while retail sales fell 1 percent on-month in August, ending three consecutive months of gains.
On the other hand, production is bolstering growth thanks to the export rally. The country’s outbound shipments surged 35 percent on-year in September to reach an all-time high of US$55.1 billion on a clear upturn in global demand.