SEOUL, March 27 (Xinhua) -- Sentiment among South Korean consumers over economic situation improved for the fourth consecutive month due to the government's income-driven growth policy to boost income of the low-income bracket, central bank data showed Wednesday.
The composite consumer sentiment index (CCSI) stood at 99.8 in March, up 0.3 points from a month ago, according to the Bank of Korea (BOK).
The consumer confidence continued to rise since December last year despite the reduction in export, which accounts for about half of the export-driven economy.
Offsetting the export fall for three months through February, private consumption was enhanced amid the improved consumer sentiment, caused by the government's income-driven growth policy to narrow income gap by expanding income of the low-income employees.
The CSI for prospective state of living rose two points over the month to 94 in March, but the figure for current state of livelihood fell two points to 91 in the month.
The prospective CSI for household income was unchanged at 98, but the reading for future consumer expenditure added one point to 110.
The CSI for wage outlook declined four points to 116 in March, the lowest since April 2017 on expectations that the government may slow the rising rate of minimum wage.
Inflation expectations, which reflect outlook among consumers for headline inflation for the next 12 months, stood unchanged at 2.3 percent in March compared with the previous month.
