Korea Consumer Confidence July 2016

Korea

Korea: Consumer confidence improves in July

July 27, 2016

Confidence among Korean consumers improved in July as their optimism regarding their future economic situations increased. The Composite Consumer Sentiment Index (CCSI) published by the Bank of Korea (BoK) rose to a three-month high of 101 points in July from 98 points in June, remaining above the 100-point threshold which separates optimists from pessimists.

According to the Central Bank, a survey of 2,200 households between July 13 and 20 showed that consumers were more optimistic about their future living standards than in June. Households’ assessment of their own financial prospects also improved, as did sentiment regarding current and future domestic conditions.

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


Author:, Economist

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Korea Consumer Confidence July 2016 0

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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