South Korean consumer sentiment remained firm but flat in April as the local economy continued on a recovery track, the central bank said Friday.
The consumer sentiment index came in at 108 for April, unchanged from the previous month, according to the Bank of Korea. The index is a gauge of consumers’ overall economic outlook, living conditions and future spending.
In January, the sentiment index reached a 35-month high of 109. A reading above 100 means that optimists outnumber pessimists. The survey, based on a poll of 2,018 households nationwide, was conducted from April 11-18.
BOK officials said the survey likely did not fully reflect the impact of the deadly sinking of the passenger ferry Sewol. The vessel sank off the country’s southwestern waters on April 16, killing over 170 people.
“The sinking of the ferry does not seem to have been counted into the consumer sentiment for April,” said an official at the BOK, adding that the sentiment might have fallen if it was. (Yonhap)