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S. Korea's consumer sentiment rebounds in 5 months

SEOUL
2019-09-26 15:14

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SEOUL, Sept. 26 (Xinhua) -- Sentiment among South Korean consumers over economic situation rebounded in five months on the eased concern about the global trade dispute, central bank data showed Thursday.

The composite consumer sentiment index (CCSI) stood at 96.9 in September, up 4.4 points from the previous month, according to the Bank of Korea (BOK). It marked the first rebound since April.

The rebound came amid the alleviated worry about the global trade dispute as well as the government's measures to bolster the faltering economy.

The country's real gross domestic product (GDP), adjusted for inflation, expanded 1.0 percent in the second quarter from three months earlier, after unexpectedly diminishing 0.4 percent in the first quarter.

Export, which accounts for about half of the export-driven economy, kept sliding for the ninth consecutive month through August.

The government disclosed a set of measures to develop homegrown industrial parts and materials in response to Japan's export curbs, while widening its expansionary fiscal policy to boost the economic growth.

Inflation expectations, which reflect the expectation among consumers for headline inflation for the next 12 months, declined 0.2 percentage points over the month to 1.8 percent in September.

It was the lowest since the BOK began compiling the data in February 2022.
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