Korea: Consumer sentiment plunges in August
August 23, 2011
In August, the Consumer Sentiment Index (CSI) published by the Bank of Korea plunged to 99 points, down from the 102 points recorded in July. With the August result, the index fell below the 100-point threshold that separates optimism from pessimism for a second time this year, after briefly dropping into pessimistic territory in March. Respondents to the survey are increasingly concerned regarding current economic conditions and are more pessimistic regarding economic conditions going forward. Moreover, households' expectations regarding their income in the short term deteriorated, dampening prospects for major purchases going forward.
Author: Armando Ciccarelli, Head of Data Solutions