SEOUL, March 24 (Xinhua) -- Confidence among South Korean consumers improved for two months as removal of former President Park Geun-hye eased political uncertainties, central bank data showed on Friday.
The composite consumer sentiment index (CCSI) increased to 96.7 in March from 94.4 in February, according to the Bank of Korea (BOK).
The March figure was the highest in five months, keeping an upward momentum for two month in a row as the constitutional court's ruling on March 10 to remove Park from office alleviated political uncertainties.
Consumers had refrained from spending money since the corruption scandal embroiling Park emerged in October last year. She was impeached in the parliament on Dec. 9 by an overwhelming majority, and the impeachment bill was upheld by the court three months later.
After peaking at 102 in October, the index declined below 100 in November and fell to 93.3 in January this year. The January figure was the lowest in almost eight years. The reading below 100 means pessimists outnumbered optimists.
The March result was based on a survey of 2,026 households conducted between March 10 and 17.
Inflation expectations, which reflect outlook for consumer price inflation in the next 12 months, came in at 2.6 percent in March, down 0.1 percentage point from the previous month.
