23.11.201723:47:00UTC+00South Korea's Consumer Confidence Strongest In 7 Years

South Korea's consumer sentiment strengthened to a seven-year high in November, survey data from Bank of Korea showed Friday.

The consumer sentiment index rose to 112.3 from 109.2 in October. This was the highest score since late 2010. A reading above 100 indicates optimists outnumber pessimists.

Consumer sentiment regarding current living standards and their future outlook gained 2 points each from previous month. The corresponding indices came in at 96 and 104, respectively.

The index for future household income held steady at 104, and that concerning future spending rose one point to 109.

Consumer sentiment related to current and future domestic economic conditions also improved in November. The gauge for current economic situation rose 7 points to 98. Likewise, the future economic situation index climbed 9 points to 108.

The expectation for inflation over the following year was 2.5 percent. The survey was conducted among 2,200 households between November 10 and 17.