S. Korea's consumer confidence keeps rising for 4 months
Source: Xinhua | 2020-08-26
Confidence among South Korean consumers over economic situation kept rising for the fourth straight month, central bank data showed Tuesday.
The composite consumer sentiment index (CCSI) stood at 88.2 in August, up four points from a month earlier, according to the Bank of Korea (BOK).
It continued to grow for four months since May but remained at a low level amid the lingering worry about the COVID-19 outbreak. The CCSI recorded 104.2 in January, the month before the virus spread peaked here in February and March.
The result was based on a survey conducted between Aug. 10 and 14. The reading was expected to fall next month as the number of confirmed COVID-19 cases here began to surge around mid-August.
In the latest tally, the country reported 280 more cases of the COVID-19 for the past 24 hours, raising the combined number to 17,945.
The number of confirmed cases for the past 12 days reached 3,175 due to infections in the metropolitan area linked to church services and a massive rally in central Seoul on Aug. 15.
Heavy downpour and heatwave were also expected to weigh down on the consumer sentiment next month.
Meanwhile, inflation expectations, which reflect the outlook among consumers over headline inflation for the next 12 months, stood at 1.8 percent in August, up 0.1 percentage point from the previous month.
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