South Korean consumer sentiment rose to the highest level in 33 months in November as the local economy has been showing signs of improvement, the central bank said Tuesday.
The consumer sentiment index (CSI) came in at 107 for November, up from 106 tallied in the previous month, according to the Bank of Korea (BOK). The index is a gauge of consumers' overall economic outlook, living conditions and future spending.
The November data marked the highest level since the index hit 109 in February 2011.
The consumer sentiment also rose for the second straight month after hitting a five-month low of 102 in September, the BOK noted.
A reading above 100 means that optimists outnumber pessimists. The survey, based on a poll of 2,021 households nationwide, was conducted from Nov. 11 to 19.
The Korean economy grew 1.1 percent on-quarter in the July-September period, the same pace as in the previous quarter, on the back of improving domestic demand and a pickup in facility investment.
The index measuring the economic outlook came in at 98 for November, up from 95 recorded in October. The index gauging the current economic assessment reached 87 for this month, compared with 84 in the previous month, the BOK noted. (Yonhap News)