Korea: Consumer confidence inches up in January
January 27, 2015
The Composite Consumer Sentiment Index (CCSI) published by the Bank of Korea (BoK) inched up from 101 points in December to 102 points in January. December’s reading had marked the lowest level since February 2013. Even though the volatile index is still above the 100-point threshold that separates optimism from pessimism, it remains below its 12-month average.
According to the BoK, January’s reading mainly reflected consumers’ more positive assessment of prospective domestic economic conditions. Consumers’ sentiment regarding potential employment opportunities was a notch higher in January compared to the previous month. Consumers’ views regarding potential household income and spending increased only marginally.
Author: Carl Kelly, Economist