Korea Consumer Confidence October 2016


Korea: Consumer confidence holds steady in October

October 26, 2016

Consumer sentiment among Korean households held steady for a third month in October. The Composite Consumer Sentiment Index (CCSI) published by the Bank of Korea (BoK) stood at August’s 102 points in October, the highest level since April 2016. The result in October also stood above the 100-point threshold which separates optimists from pessimists.

According to the Central Bank, a survey of 2,200 households between 12 and 19 October showed that consumers’ opinions regarding their current living standards as well as their future household income were slightly more optimistic. Conversely, their perception on their future economic outlook was more pessimistic, while opinions on their current domestic economic conditions as well as their future living standards remained largely unchanged. In view of downbeat future economic conditions, households were less optimistic about the labor market.

FocusEconomics Consensus Forecast panelists expect private consumption to expand 2.3% in 2016, which is unchanged from last month’s forecast. For 2017, the panel sees private consumption growth at 2.2%, which is down 0.1 percentage points from last month’s projection

Author:, Senior Economist

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Korea Consumer Confidence Chart

Korea Consumer Confidence October 2016

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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