MNI DATA IMPACT: South Korea Consumer Sentiment Rises

South Korea's consumer sentiment broadly improved in October from the previous month as economic activities resumed, according to data released on Wednesday by the Bank of Korea.

The Composite Consumer Sentiment Index for October stood at 91.6, up 12.2 points from September.

Consumer sentiment regarding current living standards was five points higher than in September, at 86, and sentiment concerning the future outlook for living standards was at 91, six points higher than the previous month.

Consumer sentiment related to future household income was six points higher than in September at 94, and that concerning future household spending was eight points higher than the previous month at 100.

Consumer sentient concerning current domestic economic conditions was 16 points higher than in September at 58, and sentiment concerning future domestic economic conditions was at 83, 17 points higher than the previous month.

The survey results indicate that private spending is expected to rise in the fourth quarter from the third quarter, when spending fell 0.1% q/q.

Data released by the BOK on Tuesday showed that South Korea's GDP rose 1.9% q/q in the third quarter for the third growth in three quarters following -3.2% in the second quarter and -1.3% in the first quarter.

The growth was mainly led by exports, which rose 15.6% q/q in the third quarter, reversing from -16.1% in the second quarter.