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South Korean consumer sentiment rose to the highest level in 17 months in October, aided by optimism that the local economy is showing signs of improvement, the central bank said Monday.
The consumer sentiment index (CSI) came in at 106 for October, up from 102 tallied in the previous month, according to the Bank of Korea (BOK). The index is a gauge of consumers' overall economic outlook, living conditions and future spending.
The October data marked the highest level since an identical 106 posted in May 2012.
A reading above 100 means that optimists outnumber pessimists.
The survey, based on a poll of 2,015 households nationwide, was conducted from Oct. 10-18.
The BOK said that the index rebounded in October due to a low comparison base in September and the local economy being on the recovery track.
In September, the index declined to a five-month low as consumers' outlook for spending turned worse, mainly driven by a hike in housing expenses.
The BOK said Friday that the Korean economy grew 1.1 percent on-quarter in the third quarter --the same pace as in the previous quarter -- on the back of improving domestic demand and a pickup in facility investment.
The index measuring the economic outlook came in at 95 for October, down from 97 recorded in September. But the index gauging the current economic assessment reached 84 for this month, compared with 77 in the previous month, the BOK noted. (Yonhap News)
The consumer sentiment index (CSI) came in at 106 for October, up from 102 tallied in the previous month, according to the Bank of Korea (BOK). The index is a gauge of consumers' overall economic outlook, living conditions and future spending.
The October data marked the highest level since an identical 106 posted in May 2012.
A reading above 100 means that optimists outnumber pessimists.
The survey, based on a poll of 2,015 households nationwide, was conducted from Oct. 10-18.
The BOK said that the index rebounded in October due to a low comparison base in September and the local economy being on the recovery track.
In September, the index declined to a five-month low as consumers' outlook for spending turned worse, mainly driven by a hike in housing expenses.
The BOK said Friday that the Korean economy grew 1.1 percent on-quarter in the third quarter --the same pace as in the previous quarter -- on the back of improving domestic demand and a pickup in facility investment.
The index measuring the economic outlook came in at 95 for October, down from 97 recorded in September. But the index gauging the current economic assessment reached 84 for this month, compared with 77 in the previous month, the BOK noted. (Yonhap News)
