(MENAFN) Confidence among South Korean consumers kept an upward trend for two months in a row, indicating a consumption recovery caused by fiscal and monetary stimulus, Xinhua reported.
Composite consumer sentiment index (CCSI), which reflects consumers' assessment of economic conditions, stood at 103 for February, up 1 point from a month earlier, according to the Bank of Korea (BOK).
To boost sentiment among economic agents, the government unveiled a fiscal stimulus package last year, and the BOK cut its policy rate in August and October to a record low of 2 percent.
Consumer sentiment on current living standards was unchanged at 89 in February, but the figure for prospective living conditions rose 1 point from the prior month.
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.