SEOUL Jan 27 South Korea's key consumer
sentiment index rose to its highest in nearly three years in
January, a central bank survey showed on Monday, suggesting
private consumption in Asia's fourth-largest economy would hold
The Bank of Korea said in a statement its composite consumer
sentiment index, compiled from its monthly survey, climbed to
109 in January from 107 in both December and November.
It was the highest since setting the same 109 level in
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 central bank estimated last week the trade-reliant
economy expanded by a seasonally adjusted 0.9 percent in the
final quarter of 2013 over the previous three-month period, led
by private consumption.
Meanwhile, the central bank said in the same statement on
Monday that the median expected consumer inflation rate for the
next 12 months stood at 2.9 percent for a fifth straight month,
well above the actual inflation rate of 1.1 percent set in
The Bank of Korea said it surveyed more than 2,200
households across the nation from Jan. 13 to 20.
(Reporting by Jungmin Jang; Editing by Choonsik Yoo & Kim