In March, the Consumer Sentiment Index (CSI) published by the Bank of Korea stabilized at the 108 points recorded in February. The index is still above the 100-point threshold, which indicates that consumers are more optimistic than pessimistic. According to the Central Bank, consumers' views regarding their current living standards as well as the country's overall economic condition deteriorated slightly compared to February. Conversely, households were more optimistic regarding their country's economic prospects and their opinions regarding prospective purchases of big-ticket items improved over the previous month. FocusEconomics Consensus Forecast panelists expect private consumption to expand 2.8% in 2014, which is unchanged from last month's forecast. For 2015, the panel sees private consumption accelerating to 3.1%.
Korea Consumer Confidence
Consumer confidence stable in March
March 27, 2014
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Korea Consumer Confidence Chart
Note: Composite Consumer Sentiment Index (CCSI). An index value above 100 indicates an optimistic outlook while a value below 100 indicates a pessimistic outlook.
Source: Bank of Korea (BoK).
Korea Economic News
October 13, 2016
At its 13 October monetary policy meeting, the Bank of Korea (BoK) announced that it will hold the base rate constant at a record low of 1.25%, which was largely in line with market expectations.
October 5, 2016
In September, consumer prices rose 0.6% over the previous month, which contrasted the 0.1% decrease in August and overshot the 0.2% increase the markets had expected.
October 3, 2016
Korea’s Customs Services reported that exports totaled USD 40.9 billion in September, which represented a 5.9% contraction over the USD 43.4 billion recorded in the same month last year.
September 30, 2016
The forward-looking business confidence indicator (BSI) for the manufacturing sector produced by the Bank of Korea (BoK) rose from 74 points in September to 75 points in October.
September 30, 2016
In August, industrial production accelerated and expanded 2.3% year-on-year, which was up from both the 1.6% increase registered in July and the 1.6% rise the markets had expected.