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S. Korea's Consumer Sentiment Posts Steepest Growth in over 11 Years

Write: 2020-10-28 08:15:58Update: 2020-10-28 09:23:49

S. Korea's Consumer Sentiment Posts Steepest Growth in over 11 Years

Photo : KBS News

South Korea's consumer sentiment rebounded and grew at the fastest pace in eleven years and six months in October.

According to the Bank of Korea on Wednesday, the composite consumer sentiment index(CCSI) came to 91-point-six for October, up 12-point-two points from a month earlier.

The reading marks the largest on-month gain since April 2009 when it jumped by 20-point-two points.

A reading below 100 means pessimists outnumber optimists.

The index grew for four straight months before falling in September amid a resurgence of coronavirus infections and the enhanced social distancing guidelines.

The central bank attributed the rebound in consumer sentiment to a brighter economic outlook following a slowdown in new COVID-19 cases and eased social distancing measures.

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