Consumer Confidence in South Korea Surges to 11-Month High

by CFO Innovation Asia Staff, 26 April 2012

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South Korean consumer confidence surged to the highest level in almost a year, reports the Bank of Korea.

The central bank says the consumer sentiment index was at 104 in April, the highest since May 2011, rising from 101 in March. A reading above 100 indicates optimists outnumber pessimists.

The expected inflation rate over the next year was 3.8 percent in April, below last month’s 3.9 percent, the report showed.

The consumer confidence index is based on survey responses from 2,052 households in 56 cities.

Bloomberg reports that South Korea’s won rebounded from a three-month low and stocks rallied right after a long-range rocket launched by North Korea failed on April 13.

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