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.
Author: Carl Kelly, Economist