Korea: Consumer confidence remains stable in April
April 25, 2014
In April, the Consumer Sentiment Index (CSI) published by the Bank of Korea remained at the 108 points recorded in both February and March. The index is still above the 100-point threshold, which indicates that consumers are more optimistic than pessimistic.
According to the Central Bank, consumers' views regarding their current living standards as well as the country's overall economic condition improved slightly compared to March. Conversely, households were less optimistic regarding the country's economic prospects. Consumers' opinions regarding their prospective living standards were unchanged over the previous month.
FocusEconomics Consensus Forecast panelists expect private consumption to expand 2.8% in 2014, which is unchanged from last month's forecast. For 2015, the panel sees private consumption accelerating to 3.1%.
Author: Ricardo Aceves, Senior Economist