S. Korea's consumer sentiment improves in March-Xinhua

S. Korea's consumer sentiment improves in March

Source: Xinhua| 2022-03-29 13:13:14|Editor: huaxia

SEOUL, March 29 (Xinhua) -- Sentiment among South Korean consumers over economic situations improved this month due to the eased social-distancing rule against the COVID-19 pandemic, central bank data showed Tuesday.

The composite consumer sentiment index (CCSI) stood at 103.2 in March, up 0.1 point from the previous month, according to the Bank of Korea (BOK).

It came as the government moderated anti-virus measures by extending business hours and raising the number of people allowed for private gatherings in a bid to help small merchants overcome the pandemic-hit economic slump.

In the latest tally, the country reported 347,554 more COVID-19 cases for the past 24 hours, lifting the total number of infections to 12,350,428.

Sub-indices showed a mixed result. The prospective index for consumer spending gained 4 points over the month to 114 in March, but the reading for household income was unchanged at 99.

The index for current economic situation declined 4 points to 71 in the month, and the figure for economic outlook retreated 4 points to 87.

Inflation expectations, which gauge outlook among consumers over headline inflation for the next 12 months, came to 2.9 percent in March.

It was up 0.2 percentage points from the prior month, marking the highest in almost eight years since April 2014.

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