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Korean Consumer Sentiment Hits 7-Year High

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저작물명
Korean Consumer Sentiment Hits 7-Year High
저작(권)자
저작자 미상 (저작물 2267374 건)
출처
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KOGL 출처표시, 상업적, 비상업적 이용가능, 변형 등 2차적 저작물 작성 가능(새창열림)
공표년도
창작년도
2009-08-26
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영상
요약정보
Korea's consumer confidence level reached a seven-year high in August thanks to positive economic indicators and growing optimism about an economic recovery.
According to the Bank of Korea the consumer survey index or CSI which measures consumers' overall economic outlook living conditions and planned spending rose by 5 points from the previous month to reach a level of 114 in August.
This is the highest consumer sentiment level seen since the third quarter of 2002 when the index also hit 114.
Officials say that August's figures mark a fifth consecutive increase in consumer confidence as the CSI has been steadily climbing above the benchmark level of 100 for the past four months.
A CSI reading above 100 means that there are more people who are optimistic about a nation's economic prospects than those who are pessimistic.
A sub-index measuring current economic conditions also hit a seven-year high of 112 in August 16 points higher than just a month ago.
Such positive data was reflected in the economic outlook index which rose 11 points to hit 125.
BOK officials say that rising stock prices and growing signs of an impending period of economic improvement have all served to boost consumer sentiment.
Meanwhile Finance Minister Yoon Jeung-hyun says that Korea's economy will easily reach the government's projected economic growth rate of minus 1.5 percent this year.
On Wednesday Minister Yoon said in the absence of unforeseen negative impacts from foreign markets. Korea's economy should continue to post positive growth throughout the latter half of this year.
He also forecast that next year the country will post an economic growth rate of up to 4 percent on the back of improved global economic conditions and a rebound in domestic demand.
However the minister did go on to say that contrary to the economy which seems to be showing signs of sustainable recovery the country's employment rate still remains low.
Jang Ji-yun‚ Arirang News.
Reporter : jiyun.jang@arirang.co.kr
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