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Consumer sentiment climbs to 10-month high in April

All Headlines 06:00 April 26, 2019

SEOUL, April 26 (Yonhap) -- South Korea's consumer sentiment improved for the fifth consecutive month in April, climbing to the highest level in 10 months, data from the Bank of Korea (BOK) showed Friday.

The composite consumer sentiment index came to 101.6 for the month, up 1.8 from the month before.

The reading marks the highest since June 2018 when the index came to 105.4. It also marks the first time in seven months the index breached the 100 mark, according to BOK.

A reading above the long-term average of 100 means optimists outnumber pessimists.

The index measuring people's sentiment regarding current economic conditions, one of six key components of the monthly index, advanced 4 from a month earlier to 74 in April with a separate index gauging their expectations for conditions in six months gaining 2 to 81 over the cited period.

The latest report comes one week after the central bank slashed its 2019 growth outlook for the local economy to 2.5 percent, from 2.6 percent forecast three months earlier.

The people's sentiment toward their current and future living conditions also improved to 93 and 95, respectively, in April.

The index for the people's outlook on their future income gained 1 to 99 while the index for their outlook on spending stayed flat at 110.

bdk@yna.co.kr
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