Korea Consumer Confidence March 2016

Korea

Korea: Consumer sentiment improves in March

March 29, 2016

Confidence among Korean consumers improved in March, helped by a better assessment regarding their economic situation. The Composite Consumer Sentiment Index (CCSI) published by the Bank of Korea (BoK) rose to 100 points in March, recovering the ground lost in February, when the indicator fell to 98.0 points. As a result, the typically-volatile index rested at the 100-point threshold, which separates optimists from pessimists.

The indicator fell uninterruptedly from 105 pints in December to 98 points in February, before rebounding in March. Consumer confidence improved in March as consumers’ were more optimistic regarding their current financial situation due to a stabilization in financial markets—particularly the exchange rate—in the past weeks. In addition, optimism returned to Korean households in March as geopolitical risks in the Peninsula eased, following the Democratic People's Republic of Korea (DPRK) failed rocket launch.

FocusEconomics Consensus Forecast panelists expect private consumption to expand 2.4% in 2016, which is unchanged from last month’s forecast. For 2017, the panel sees private consumption growth accelerating to 2.5%.


Author:, Senior Economist

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Korea Consumer Confidence March 2016

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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