S.Korea's consumer sentiment rebounds on gov't relief grants

May 26, 2020

S.Korea's consumer sentiment rebounds on gov't relief grants

Seoul (South Korea), May 26: Sentiment among South Korean consumers over economic situations rebounded in May as the government provided relief grants for all households in a bid to bolster consumer spending, central bank data showed Tuesday.
The composite consumer sentiment index (CCSI) stood at 77.6 in May, up 6.8 points from the previous month, according to the Bank of Korea (BOK).
It came as the government offered relief grants to all households to help boost private consumption, hit hard by the COVID-19 outbreak.
The grant as much as 1 million won (810 U.S. dollars) was given to households with at least four or more family members.
The number of confirmed COVID-19 cases slowed down in recent weeks, enabling the government to loosen rules on social distancing campaign.
Inflation expectations, which reflect outlook among consumers over headline inflation for the next 12 months, came to 1.6 percent in May, down 0.1 percentage point from a month earlier.
Source: Xinhua News Agency