Korea: Consumer confidence in November reaches highest point in over a year
November 26, 2015
The Composite Consumer Sentiment Index (CCSI) published by the Bank of Korea (BoK) inched up from 105 points in October to 106 points in November. The improvement puts the historically-volatile index further above the 100-point threshold that separates optimism from pessimism. Consumer confidence has recovered steadily after hitting a multi-year low in June, and in November reached the highest point since September of last year.
According to the BoK, November’s reading was mainly driven by an improvement in consumers’ outlook on prospective income and spending. In contrast, consumers’ views of current economic conditions were slightly weaker.
Author: Carl Kelly, Economist