Korea Consumer Confidence

Korea

Korea: Consumer confidence inches up in July on improved outlook

August 14, 2015

The Composite Consumer Sentiment Index (CCSI) published by the Bank of Korea (BoK) increased from 99 points in June to 100 points in July. June’s result was the lowest since December 2012, but the small increase in July puts the historically-volatile index right at the 100-point threshold that separates optimism from pessimism.

According to the BoK, July’s reading was driven by an improvement in consumers’ outlook on prospective living standards, employment opportunities and domestic economic conditions. However, consumers were still rather pessimistic regarding current living standards and economic conditions.

FocusEconomics Consensus Forecast panelists expect private consumption to expand 2.7% in 2015, which is down 0.1 percentage points from last month’s forecast. For 2016, the panel sees private consumption accelerating to 2.8%.


Author:, Economist

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Korea Consumer Confidence Chart


Korea Consumer Confidence July 2015

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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