April 25, 2024

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[THE INVESTOR] Korea’s consumer confidence rebounded in May after five months of losses thanks to improved inter-Korean relations, a central bank poll showed on May 29.

The composite consumer sentiment index for this month stood at 107.9, up 0.8 point from the previous month, according to the survey by the Bank of Korea.

A reading above 100 means that people have an optimistic outlook, compared to the average sentiment over the past 14 years.

The May figure ended the five consecutive months of losses that started in December last year, after CCSI hit a seven-year high of 112 in November.

The central bank said its index measuring people‘s sentiments regarding current economic conditions rose three points to 89 in May, while numbers for the public’s feelings toward economic conditions over the next six months jumped to 101 from 96 over the cited period.

The latest monthly index is based on a survey of 1,970 households throughout the country, conducted from May 11-18.

By Song Seung-hyun and newswires (ssh@heraldcorp.com)