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S. Korea's Consumer Sentiment Rebounds in May

Written: 2020-05-26 08:23:25Updated: 2020-05-26 18:37:45

Photo : YONHAP News

South Korea's consumer sentiment rebounded for the first time in six months in May on a decline in the number of new COVID-19 cases.

According to the Bank of Korea on Tuesday, the country's composite consumer sentiment index came to 77-point-six this month, up six-point-eight points from a month earlier.

A reading below 100 means pessimists outnumber optimists.

The index rapidly dropped for five straight months before tumbling to the lowest level since December 2008 in April.

The central bank attributed the rebound in May to a slowdown in new coronavirus cases, eased social distancing at home and abroad, and the government's active stimulus measures.

A subindex measuring people's future outlooks on economic conditions jumped eight points on-month to 67, while a separate index measuring people's sentiment toward current economic conditions also rose by five to 36.

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