South Korea's consumer sentiment rose for the second consecutive month in February, the central bank said on Wednesday.
The composite consumer sentiment index (CCSI) for February stood at 103, up one point from from a revised 102 in the previous month, the Bank of Korea (BOK) said, based on a survey of 2,011 households nationwide which was conducted between Feb. 9 and 16.
A CCSI above 100 indicates that consumers’ subjective expectations as to the economic situation are more positive than the past (2003-2014) average, and one below 100 that they are more negative. The index is a gauge of consumers' overall economic outlook, living conditions and future spending.
The results of the monthly survey also include:
- Consumer sentiment on current living standards remained unchanged at 89, while that for their outlook was one point higher than during the month before at 98.
- Consumer sentiments regarding current domestic economic conditions and their future outlook were down by three points each compared to January, at 71 and 87, respectively.
- Consumer sentiment on prospective changes in household income was one point higher at 102, and that on expected spending two points higher at 109.
- The expectation for inflation over the following year was 2.6 percent.
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