Korea: Consumer confidence stable in March
March 27, 2014
In March, the Consumer Sentiment Index (CSI) published by the Bank of Korea stabilized at the 108 points recorded in February. 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 deteriorated slightly compared to February. Conversely, households were more optimistic regarding their country's economic prospects and their opinions regarding prospective purchases of big-ticket items improved 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