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Financial News: South Korea Consumer Confidence Improves To 6-Month High

South Korea Consumer Confidence Improves To 6-Month High

02/20/2024 - 01:34:00 (RTTNews)

(RTTNews) - South Korea's consumer sentiment strengthened in February to the highest level in six months amid easing inflation, survey results from the Bank of Korea showed on Tuesday.

The consumer confidence index rose to 101.9 in February from 101.6 in the previous month.

Further, this was the highest score since August 2023, when it was 103.3.

The consumer confidence survey was conducted between February 5 and 14 among 2,500 households.

The sub-index for households' assessment of current living standards rose to 90 from 59, while the measure for prospective living standards remained stable at 94.

Similarly, the index measuring consumers' prospective household income stayed unchanged at 100.

South Koreans were slightly less pessimistic about their job prospects, and the relevant index dropped to 83 from 84.

Their interest rate expectations increased in February, with the measure rising to 100 from 99.

The expected inflation rate for the upcoming year was 3.2 percent, the same as in January.

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