As the Bank of Korea gears up to conduct its most recent rate-setting session later this week, survey data reveals that consumer sentiment in South Korea declined in February as households’ expectations for future living standards and earnings declined.
Results from a survey conducted by the Bank of Korea revealed that the consumer confidence index fell from 90.7 in January to 90.2 now. The measurement in December was 90.2.
The measure for the view on prospective income eased to 95 from 96, and the sub-index for households’ estimate of future living standards fell to 83 from 85.
Consumers anticipate an increase in household spending in the future, and the pertinent indicator increased from 110 to 112 as a result.
Households’ expectations for the domestic economic conditions in future were unchanged and the corresponding index was steady at 60.
Source: RTT News
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