Sat, 12 Mar 2005

From: AFP

S. Korea's consumer sentiment improves

SEOUL: South Korea's consumer sentiment improved for the second straight month in February, bolstering hopes of an early economic recovery, official data showed on Thursday.

The consumer confidence index, which indicates expectations of economic conditions six months ahead, soared from 90.3 in January to 99.4 in February, the 29-month high, the National Statistical Office said.

Readings below 100 show that consumers are pessimistic about their prospects for economic recovery.

The February consumer confidence index, the highest since in September in 2002 when it hit 103.9, signaled that the economy will be in better shape in the near future, the office said.

The index has stayed below 100 in the past 31 months due to a prolonged economic slump. -- AFP