Korea Consumer Confidence September 2016


Consumer confidence stabilizes in September

Consumer sentiment among Korean households stabilized in September, following two consecutive improvements. The Composite Consumer Sentiment Index (CCSI) published by the Bank of Korea (BoK) stood at August’s 102 points in September, the highest level since December 2015. September’s result also remained above the 100-point threshold which separates optimists from pessimists.

According to the Central Bank, a survey of 2,200 households between 13 and 23 September showed that consumers’ opinions regarding their current living standards as well as their own economic prospects remained unchanged over the previous month. Meanwhile, respondents to the survey signaled that they were slightly less optimistic regarding Korea’s current economic situation as well as its economic prospects. This result prompted households to be less optimistic about the labor market.

FocusEconomics Consensus Forecast panelists expect private consumption to expand 2.3% in 2016, which is up 0.1 percentage points from last month’s forecast. For 2017, the panel sees private consumption growth steady at 2.3%.

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Korea Consumer Confidence Chart

Korea Consumer Confidence September 2016

Note: Composite Consumer Sentiment Index (CCSI). An index value above 100 indicates that optimistic respondents outnumber pessimistic respondents.
Source: Bank of Korea (BoK).

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