Consumer sentiment in South Korea improved for a second month in a row in February as a growing number of people pinned hopes on economic recovery, data showed Wednesday.
The overall consumer sentiment index reached 103 in February, inching up from a revised 102 in the previous month, according to the Bank of Korea. A reading above 100 means that optimists outnumber pessimists.
After slumping by four notches in the aftermath of the Sewol ferry sinking in April last year, the monthly index has been zigzagging as government stimulus measures failed to give a much-needed push for growth.
The index measuring households' anticipation of financial state improved to 98 from 97, while the forecast on household income also rose by one to 102.
The view on the macroeconomy slightly soured from the previous month with the outlook on the job market falling to 83 from 86 a month ago.
Consumers' inflation forecast for the next 1-year period came in at 2.6 percent, unchanged for a third consecutive month. The reading matches the central bank's 2.5-3.5 percent target band for the years 2013-2015.
The current target band, however, has been questioned for its validity as inflation has mostly remained in the 1 percent range.
The CSI survey of 2,200 households across the nation was conducted from Feb. 9-16. (Yonhap)
