Korea: Consumer confidence improves in June
June 25, 2013
The Consumer Sentiment Index (CSI) published by the Bank of Korea rose from 104 points in May to 105 points in June, reaching the highest level in over a year. As a result, the index moved further above the 100-point threshold that separates optimistic from pessimistic territory, suggesting improving prospects for consumer spending in the coming months.
Compared to May, households were more optimistic in evaluating both the outlook for the next six months and their current situation. Gains were seen in current domestic economic conditions and prospective living standards, while the remaining sub-indices remained unchanged.
FocusEconomics Consensus Forecast panellists expect private consumption to expand 2.1% this year, which is down 0.2 percentage points from last month's forecast. For next year, the panel sees private consumption accelerating to 2.9%.