Sat, 16 Jan 2021

S.Korea's consumer sentiment improves in November

Xinhua
24 Nov 2020, 13:51 GMT+10

SEOUL, Nov. 24 (Xinhua) -- Sentiment among South Korean consumers over economic situations improved this month, central bank data showed Tuesday.

The composite consumer sentiment index (CCSI) gained 6.3 points over the month to 97.9 in November, according to the Bank of Korea (BOK).

The index retreated to 79.4 in September on the back of the COVID-19 resurgence here in August and September, but it rebounded to 91.6 in October and 97.9 percent in November each amid the reduced infections.

However, the November reading did not reflect the COVID-19 resurgence in recent days. The CCSI result was based on a BOK survey conducted between Nov. 10 and 16.

In the latest tally, South Korea reported 349 more cases of COVID-19 for the past 24 hours, raising the total number of infections to 31,353. The daily caseload grew in triple digits for 17 days running.

The government lifted its five-tier social-distancing rules to the third-highest Level 2 in the Seoul metropolitan area from Tuesday, after upgrading the distancing guidelines from the lowest Level 1 to Level 1.5 on Nov. 19.

Inflation expectations, which measure headline inflation outlook among consumers for the next 12 months, stood at 1.8 percent in November, unchanged from the previous month.

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