South Korea’s consumer confidence ticks higher in Aug, optimism prevails in domestic sector

Consumer confidence in South Korea ticked higher in August, showering signs of economic optimism within the domestic sector of the economy.

Consumer confidence in South Korea improved slightly in August, the latest survey from the Bank of Korea showed on Friday, as its index rose to a score of 102 from 101 in July, data released by the Bank of Korea showed Friday.

In addition, consumer sentiments concerning both current living standards and their future outlook remained unchanged, at 91 and 98 respectively. Consumer sentiment as to current domestic economic conditions had jumped by three points over July's figure to stand at 74, and that assessing their future outlook by five points to register 85.

Moreover, consumer sentiment related to future household income was 100 and that concerning expected spending at 106, both unchanged from the month before. Meanwhile, the expectation for inflation over the following year was 2.4 percent.