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S. Korea's consumer confidence rebound on less effect from ferry disaster

English.news.cn   2014-06-25 09:56:11

SEOUL, June 25 (Xinhua) -- Confidence among South Korean consumers rebounded this month as negative effect from the deadly ferry sinking disaster reduced, central bank data showed Wednesday.

Composite consumer sentiment index (CCSI) came to 107 in June, up 2 points from a month earlier, according to the Bank of Korea ( BOK).

The rebound came a month after the sentiment fell to 105, the lowest in eight months, due to the negative effect from the April ferry sinking disaster that left more than 300 people dead or missing.

South Korean consumers refrained from travel and entertainment following the maritime accident, fueling worries that the already fragile domestic demand may worsen further.

The June rebound indicated South Koreans may be recovering from deep grief caused by the incident where hundreds of high school students lost their lives.

Sub-indices showed a roughly optimistic picture. Consumer sentiment on current living standards rose 1 point in June from a month earlier, with the figure for prospective living standards rising 2 points on month to 101 in June.

Sentiment on current economic conditions increased 3 points on month in June, with the reading for prospective economic situations jumping 4 points.

Inflation expectations among consumers over the next 12 months stood at an annual rate of 2.8 percent in June, unchanged from the prior month.

Editor: An
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