In March, the Consumer Sentiment Index (CSI) published by the Bank of Korea plunged to 98 points from 105 points in February. The decline marked the fourth consecutive monthly drop in the index and pushed consumer sentiment to its lowest level since April 2009. With the March drop, consumer confidence fell below the 100-point threshold that separates optimism from pessimism, implying a dismal outlook for private consumption in the coming months. This month's survey was strongly influenced by the earthquake crisis in Japan, as respondents to the survey believed that this event will negatively affect economic conditions in Korea in the coming months. In particular, households' outlook regarding their income in the short term moderated strongly, leading to deteriorating prospects for major purchases going forward.
Korea Consumer Confidence
Consumer sentiment plunges in March after Japan earthquake
March 25, 2011
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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.