Consumer confidence improves for third straight month: NSO

The index that tracks consumer confidence has improved for the third straight month. Still, the number of households that intend to reduce consumption outnumbers that of those who plan to increase consumption. Yet it is believed that consumer confidence has recovered fully.

The National Statistical Office (NSO) reported Wednesday that March`s consumer expectation index, a barometer for consumption over the following six months, rose 2.1 points from February`s 92 points to 94.2 points last month.

The index fell to 82.2 points last December and has been recovering for the third consecutive month, so it seems that the worst is over. However, it is yet to reach 100 points for fully recovery in consumer confidence.

March`s expectation index about business gained 2.3 points to 88.9. It means that a growing number of consumers is confident that the economy will improve. In addition, the consumer evaluation index, which shows the current consumer confidence in comparison with six months ago, rose for the third straight month to 74.1 in March.

Kwon Soon-Hwal shkwon@donga.com