Korea Consumer Confidence

Korea

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.

FocusEconomics Consensus Forecast panelists expect private consumption to expand 2.1% in 2014, which is unchanged from last month’s forecast. For 2015, the panel sees private consumption accelerating to 2.9%, which is up 0.1 percentage points from last month.


Author:, Economist

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Korea Consumer Confidence November 2014

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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