SEOUL, July 29 (Xinhua) -- Sentiment among South Korean consumers over the economic situation improved for three straight months on the government's effort to boost the lackluster economy, central bank data showed Wednesday.
The composite consumer sentiment index (CCSI) stood at 84.2 in July, up 2.4 points from a month earlier, according to the Bank of Korea (BOK).
After peaking at 104.2 in January, the index declined to 70.8 in April, but it continued to grow for three months in a row.
Consumer confidence weakened on the back of the economic fallout from the COVID-19 outbreak, but it rebounded thanks to the government's offer of relief grants to all households and the announcement of supplementary budget to prop up the flagging economy.
Real gross domestic product (GDP), adjusted for inflation, tumbled 3.3 percent in the second quarter from the prior quarter, after sliding 1.3 percent in the first quarter.
Inflation expectations, which reflect outlook among consumers for headline inflation, added 0.1 percentage point over the month to 1.7 percent in July.
Latest comments