South Korea’s consumer confidence rebounds

South Korea’s consumer confidence rebounded in February as positive economic indicators in the US boosted hopes for the global economic recovery, the central bank said Friday.

Consumer sentiment index (CSI), which gauges consumers’ overall economic outlook, stood at 100 in February, up 2 points from a month earlier, according to the Bank of Korea (BOK).

The CSI is based on survey response from 2,062 households in 56 cities, conducted between Feb 10 and 17. The reading above 100 means optimists outnumber pessimists.

The consumer confidence rebounded for the first time in three months as the US saw some economic indicators improved recently.

“There were no clear positives in the global economy, and economic activities in the euro area remained fragile. But some positive economic indicators in the US boosted consumer confidence over the economy,” an official at the BOK told Xinhua.

South Korean consumers’ expectation for inflation fell slightly, but stayed at a high level. Inflation expectation over the next 12 months came in at an annual rate of 4.0 percent in February, down 0.1 percentage point from the previous month.