S. Korea’s consumer sentiment improves for 3 months

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SEOUL, March 26 (Xinhua) — Sentiment among South Korean consumers over economic situation improved for the third consecutive month on expectations for the ongoing vaccination campaign against the COVID-19, central bank data showed Friday.

The composite consumer sentiment index (CCSI) came in at 100.5 in March, up 3.1 points from the previous month, according to the Bank of Korea (BOK).

The index continued to go up for three straight months, surpassing 100 in three months. The result was based on a survey conducted on March 9-16.

The recovering consumer sentiment came as the government launched the mass inoculation in late February with an aim to administer vaccines to 12 million people of the country’s 52-million population by the end of June.

Sub-indices gained ground. The index for the current economic situation advanced 9 points in March from the previous month, and the prospective index for future economic conditions gained 3 points.

The prospective index for consumer spending added 3 points in March from a month ago.

Inflation expectations, which reflect the outlook among consumers over headline inflation for the next 12 months, stood at 2.1 percent in March, up 0.1 percentage point from the prior month. Enditem

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