Korea: Consumer confidence continues to fall in November
November 26, 2014
The Composite Consumer Sentiment Index (CCSI) published by the Bank of Korea (BoK) inched down from 105 points in October to 103 points in November. November’s reading marked the lowest level since September 2013. Although the volatile index is still above the 100-point threshold that separates optimism from pessimism, it has been on a downward trend since January.
According to the BoK, November’s reading mainly reflected consumers’ more pessimistic assessments regarding both their current and future domestic economic conditions. Households’ views on their current and prospective living standards were also less optimistic compared to October. Households’ views on their expected income remained unchanged.
Author: Cecilia Simkievich, Economist