Published : 2013-08-27 09:21
Updated : 2013-08-27 09:21
South Korean consumer sentiment remained unchanged for the third straight month in August as economic uncertainty lingers, the central bank said Tuesday.
The consumer sentiment index (CSI) -- a gauge of consumers' overall economic outlook, living conditions and future spending -- came in at 105 for August, unchanged from the previous month, according to the Bank of Korea (BOK).
Though the index has stayed flat since June, it marked the highest level since the index hit 106 in May last year.
A reading above 100 means that optimists outnumber pessimists.
The survey, based on a poll of 1,980 households nationwide, was conducted from Aug. 12-20.
In July, the BOK revised up its 2013 growth estimate to 2.8 percent from the previous 2.6 percent, citing impact from fiscal and monetary stimulus. The government unveiled stimulus measures including extra fiscal spending, and the BOK made the first rate cut in seven months in May.
But the Korean economy still faces downside risks such as China's slowdown and uncertainty over U.S. stimulus reduction.
Market routs in emerging countries including India and Indonesia are also adding to uncertainty on concerns over possible contagion of such turmoil.
The index measuring the economic outlook came in at 93 for August, down from 95 in July. The index gauging the current economic assessment reached 81 for this month, down from 82 tallied in the previous month, the BOk said. (Yonhap news)