Bloomberg News

South Korea’s Consumer Confidence Retreats From Three-Month High

June 23, 2011

June 24 (Bloomberg) -- South Korean consumer confidence declined in June from a three-month high in May and inflation expectations held near the Bank of Korea’s 4 percent target ceiling.

The sentiment index fell to 102 from 104 in May, the Bank of Korea said in an e-mailed statement from Seoul today. A reading above 100 indicates optimists outnumber pessimists. The expected inflation rate over the next year was 3.9 percent, unchanged from last month, today’s report showed.

A sub-index measuring consumers’ views of the economic outlook dropped to 86 from 91 in the previous month.

The consumer confidence index is based on survey responses from 2,018 households in 56 cities. It was conducted by mail and telephone between June 13 and June 20.

--Editors: Ken McCallum, Nerys Avery

To contact the reporter on this story: Eunkyung Seo in Seoul at eseo3@bloomberg.net

To contact the editor responsible for this story: Paul Panckhurst at ppanckhurst@bloomberg.net


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