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South Korea's consumer confidence rebounded in May after five months of losses thanks to improved inter-Korean relations, a central bank poll showed Tuesday.
The composite consumer sentiment index for this month stood at 107.9, up 0.8 point from the previous month, according to the survey by the Bank of Korea.
A reading above 100 means that people have an optimistic outlook, compared to the average sentiment over the past 14 years.
The May figure ended the five consecutive months of losses that started in December last year, after CCSI hit a seven-year high of 112 in November.
The BOK said the recent thawing on the Korean Peninsula, following the April 27 summit meeting between South Korean President Moon Jae-in and North Korean leader Kim Jong-un, boosted consumer confidence here. Prospects for the first-ever summit meeting between the United States and North Korea that could take place on June 12 further buoyed consumer confidence.
Eased worries over a possible trade clash between the United States and China also supported the turnaround in consumer sentiment.
The central bank said its index measuring people's sentiments regarding current economic conditions rose three points to 89 in May, while numbers for the public's feelings toward economic conditions over the next six months jumped to 101 from 96 over the cited period.
The latest monthly index is based on a survey of 1,970 households throughout the country, conducted from May 11-18. (Yonhap)
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