SEOUL Feb 26 South Korea's key consumer
sentiment index slipped in February, a central bank survey
showed on Wednesday, but remained high enough to suggest private
consumption in Asia's fourth-largest economy is still on track
The Bank of Korea said in a statement its composite consumer
sentiment index, compiled from its monthly survey, was 108 in
February compared with 109 in January, the highest level since
Although February's reading was the index's first drop
since September, it was still above the past 12-month average of
A reading above 100 indicates positive consumer sentiment
about conditions over the coming months compared with the
long-term average sentiment accumulated from 2003 to 2013. The
index has stayed above 100 since January last year.
The index figure comes a day after President Park Geun-hye
unveiled a three-year blueprint to boost the economy. It
emphasized growth in private consumption and reducing the
country's reliance on exports.
Meanwhile, the central bank said in the same statement that
the median expected consumer inflation rate for the next 12
months stood at 2.9 percent, holding steady for a sixth
consecutive month and well above the actual inflation rate of
1.1 percent in January.
The Bank of Korea said it surveyed more than 2,200
households nation-wide from Feb. 12 to 19.
(Reporting by Jungmin Jang; Editing by Richard Borsuk)