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| ▲ People wait in line to take COVID-19 tests at a makeshift testing center in front of Seoul Station in central Seoul on Feb. 21, 2022. (Yonhap) |
consumer sentiment-February
Consumer sentiment worsens in Feb. over virus resurgence
SEOUL, Feb. 22 (Yonhap) -- South Korea's consumer sentiment worsened in February as the highly contagious COVID-19 omicron variant has triggered an unprecedented wave of infections, central bank data showed Tuesday.
The composite consumer sentiment index (CCSI) came to 103.1 in February, down 1.3 points from the previous month, according to data from the Bank of Korea.
A reading above 100 means optimists outnumber pessimists.
The figure improved in January following a drop the previous month, as toughened antivirus rules mitigated worries over the spread of the pandemic.
But sentiment worsened again due to the drastic surge in COVID-19 cases over the fast spread of the omicron variant, the BOK said in a release.
"The impact of the pandemic on consumer sentiment, however, was somewhat limited, as the omicron has not led to marked growth in serious cases and the government has not toughened antivirus measures," it added.
The number of daily infections exceeded 100,000 for the first time last week and had been above the level for three days in a row before falling to 95,362 cases Monday.
The figure had nearly doubled in just a week after surpassing 50,000 on Feb. 10.
Meanwhile, the subindex for people's assessment of current economic conditions came to 75, down from 76 in January, while the index gauging people's outlook for future economic conditions dropped 2 points on-month to 91, the data showed.
The index for people's outlook for housing prices hit a 21-month low of 97 in February, down from 100 the previous month, as the growth of home prices slowed amid rising interest rates and tighter lending rules, the BOK said.
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