Consumer confidence in South Korea plunged in July due largely to growing concerns about the escalating trade war between Washington and Beijing... and signs of an economic slowdown in Korea.<br />Our Kim Hyesung reports. <br /> South Korea's consumer sentiment in July fell by the steepest margin in 20 months to record an index score of 101.<br />That's down 4-point-five points from June. <br />It's also the lowest figure since April 2017 when the country was rattled by a corruption scandal that eventually brought down the former Park Geun-hye administration. <br /> The Bank of Korea attributed the slide to the escalating trade spat between the U.S. and China.... and to Korea's sluggish job growth. <br /> The fight between Korea's top two trading partners and the growing protectionism between the U.S. and the EU are increasing the downside risk to Korea’s export-driven economy. <br /> Sluggish employment figures added to concerns of a possible economic downturn, hurting consumer sentiment.<br />Between January and June, a monthly average of 142-thousand new jobs were added-- the slowest growth since the 2008 global financial crisis. <br /> The sub-index for households' economic outlook fell nine points to 87, and the sub-index on current economic conditions fell seven points. <br />Despite the government's efforts to create jobs and boost wages, outlook on job opportunity dropped six points to 87, the lowest figure since April 2017.<br /> The expected inflation rate for the following year stood the same as in June at two-point-six percent.<br />Kim Hyesung, Arirang News. <br />
