S.Korea's consumer sentiment rises for 2 months

Source: Xinhua | 2020-06-27

Sentiment among South Korean consumers over economic situation rose for two straight months thanks to fiscal stimulus packages, central bank data showed Friday.

The composite consumer sentiment index (CCSI) stood at 81.8 in June, up 4.2 points from the prior month, according to the Bank of Korea (BOK).

After bottoming at 70.8 in April, the index continued to gain for the second consecutive month as the government unveiled stimulus packages, including relief grants that were given to all households.

However, the index stayed far lower than 104.2 tallied in January, the month before the COVID-19 outbreak spread in the country. The reading below 100 indicates pessimists outnumbering optimists.

Sub-indices gained ground. The index for the current state of living advanced 5 points over the month to 84 in June, and the index for prospective state of living added 2 points to 87 this month.

The index for prospective household income and prospective consumer spending rose to 88 and 93 respectively this month.

Inflation expectations, which gauge outlook among consumers for headline inflation for the next 12 months, came to 1.6 percent in June, unchanged from the previous month.