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S. Korea's Consumer Sentiment Rises for Second Month in November

Write: 2020-11-24 08:31:27Update: 2020-11-24 09:23:43

S. Korea's Consumer Sentiment Rises for Second Month in November

Photo : Getty Images Bank

South Korea's consumer sentiment rose for the second consecutive month in November.

According to the Bank of Korea on Tuesday, the composite consumer sentiment index(CCSI) came in at 97-point-nine for November, up six-point-three points from a month earlier.  

The reading marks the second straight month of gain following the largest on-month growth in eleven years and six months in October.

A reading below 100 means pessimists outnumber optimists. 

The survey was conducted between November 10 to 16, before the nation raised social distancing regulations from the lowest Level One.

The central bank attributed the improved consumer sentiment to increased economic activities amid relaxed social distancing measures and optimism over vaccine development. 

Meanwhile, a subindex measuring people's future outlook on housing prices, which is not factored into the consumer sentiment index, soared eight points on-month to 130 in November, the highest since January 2013.

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