Korea: Consumer confidence in October reaches highest point in five months
October 27, 2015
The Composite Consumer Sentiment Index (CCSI) published by the Bank of Korea (BoK) increased from 103 points in September to 105 points in October. 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 October reached the highest point in five months.
According to the BoK, October’s reading was mainly driven by a big jump in consumers’ perspective of current domestic economic conditions. Consumers were also more upbeat about prospective domestic economic conditions. In contrast, consumers were slightly more pessimistic about employment opportunities.
Author: Carl Kelly, Economist