Korea: Consumer confidence drops in March
March 26, 2015
The Composite Consumer Sentiment Index (CCSI) published by the Bank of Korea (BoK) edged down from 103 points in February to 101 points in March. As a result, the historically volatile index is barely above the 100-point threshold that separates optimism from pessimism.
According to the BoK, March’s reading mainly reflected a weakening in consumers’ views regarding prospective income and spending. This offset minor gains in consumers’ sentiment regarding current and future domestic economic conditions. Consumers’ outlook regarding potential employment opportunities was unchanged in March compared to the previous month.
Author: Carl Kelly, Economist