Consumption Showing Signs of Recovery as MERS Fears Abate

The effects of Middle East Respiratory Syndrome on domestic consumption appear to have abated one month after the outbreak of the deadly disease here.

"Some economic indicators showed that while figures have slipped, the extent of the fallout has declined from the first and second week of the outbreak, which is why we are hoping the impact is weakening," Bank of Korea Governor Lee Ju-yeol said at a meeting on Wednesday.

Large supermarket chains Lotte Mart and Homeplus saw their revenue fall some 7.2 percent during the first week of June compared to the first two weeks of May. Revenue dropped a further 20.3 percent during the second week of this month.

But that figure fell to just 1.7 percent during the third week of the month, demonstrating that consumption appears to be reviving.