Korea: Consumer sentiment hits 10-month high in March
March 27, 2013
In March, the Consumer Sentiment Index (CSI) published by the Bank of Korea rose by 2 points to 104 points, which represents its highest level since May 2012. As a result, the index remains above the 100-point threshold that separates optimistic from pessimistic territory, suggesting improving prospects for consumer spending in the coming months.
Compared to February, households were more optimistic in evaluating their current situation as well as the outlook for the next six months, with all sub-indices improving relative to the previous month. Household's assessment of current domestic conditions saw the largest increase compared to the previous months.
FocusEconomics Consensus Forecast panellists expect private consumption to expand 2.4% this year, which is unchanged from last month's forecast. For next year, the panel sees private consumption accelerating to 2.9%.