S. Korea's consumer sentiment rises for third consecutive month in Feb.
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In other news, South Korea's central bank has released its data on consumer sentiment for February.
And it looks like consumers are feeling better about the economy.
Kim Hyesung reports.
South Korea's consumer sentiment rose for the third consecutive month in February.
The Bank of Korea says its monthly consumer sentiment index climbed two points on-month to 99-point-five.
The central bank said the improved performance of the local stock market and an uptick in North Korea-U.S. relations lifted overall consumer sentiment.
After remaining lodged at the 2-thousand level late last year... Korea's benchmark KOSPI bounced back to the 22-hundred range in February on various factors,... including rising optimism over a possible U.S.-China trade agreement.
However,... the index has remained below 100 for five straight months, meaning there are more pessimists than optimists about the local economy.
Among six major sub-indexes, four, including households' view of current economic conditions rose sharply, up five points to 70.
The view of future economic conditions jumped four points to 80.
At the same time, business sentiment in Korea has also improved.
According to the Korea Economic Research Institute's survey on 600 businesses in the country, the Business Survey Index for March hit 97, up from a decade low of 81 in February.
Respondents pointed to de-escalating trade tensions between the U.S. and China, better demand conditions in the auto and shipbuilding sector, and more working days in March compared to February...as reasons for improving business sentiment.
Business outlook in the auto and shipbuilding sector hit 104-point-two, nearly doubling from a reading of 53 for February.
But the Korea Economic Research Institute said while business sentiment has improved... the reading remains below 100 meaning there are more pessimists than optimists... and that the overall economic outlook remains weak with export growh expected to continue slowing down.
Kim Hyesung, Arirang News.
In other news, South Korea's central bank has released its data on consumer sentiment for February.
And it looks like consumers are feeling better about the economy.
Kim Hyesung reports.
South Korea's consumer sentiment rose for the third consecutive month in February.
The Bank of Korea says its monthly consumer sentiment index climbed two points on-month to 99-point-five.
The central bank said the improved performance of the local stock market and an uptick in North Korea-U.S. relations lifted overall consumer sentiment.
After remaining lodged at the 2-thousand level late last year... Korea's benchmark KOSPI bounced back to the 22-hundred range in February on various factors,... including rising optimism over a possible U.S.-China trade agreement.
However,... the index has remained below 100 for five straight months, meaning there are more pessimists than optimists about the local economy.
Among six major sub-indexes, four, including households' view of current economic conditions rose sharply, up five points to 70.
The view of future economic conditions jumped four points to 80.
At the same time, business sentiment in Korea has also improved.
According to the Korea Economic Research Institute's survey on 600 businesses in the country, the Business Survey Index for March hit 97, up from a decade low of 81 in February.
Respondents pointed to de-escalating trade tensions between the U.S. and China, better demand conditions in the auto and shipbuilding sector, and more working days in March compared to February...as reasons for improving business sentiment.
Business outlook in the auto and shipbuilding sector hit 104-point-two, nearly doubling from a reading of 53 for February.
But the Korea Economic Research Institute said while business sentiment has improved... the reading remains below 100 meaning there are more pessimists than optimists... and that the overall economic outlook remains weak with export growh expected to continue slowing down.
Kim Hyesung, Arirang News.