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South Korea's consumer confidence rises

South Korea,Business/Economy, Wed, 25 Apr 2012 IANS

Seoul, April 25 (IANS) South Korea's consumer confidence rose for three straight months in April, the central bank said Wednesday.


The consumer sentiment index (CSI), which gauges consumers' overall economic outlook, stood at 104 in April, up 3 points from a month earlier, according to the Bank of Korea (BOK). The April figure posted the third straight month of gain, reported Xinhua.



The CSI is based on survey response from 2,052 households in 56 cities conducted between April 12 and 18. The reading above 100 means optimists outnumbered pessimists.


The April advance was mainly attributed to improved economic conditions as well as stable consumer prices which fell below the 3 percent level for the first time in 19 months in March.


"Improved consumer confidence came after our real economy such as production and consumption was enhanced. Consumer prices that slipped into the 2 percent range also contributed to the sentiment enhancement," said an official at the BOK.


The official, however, noted that it remained to be seen whether the consumer confidence will continue to advance as there were still uncertainties such as Europe's debt crisis and higher oil prices, saying that the future economic indicators from aboard should be closely watched.


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