Korea Consumer Confidence October 2018

Korea

Korea: Consumer sentiment takes another tumble in October

October 26, 2018

The Bank of Korea’s composite consumer sentiment index fell back into pessimistic territory in October, after briefly recovering into optimistic ground in September. The index landed at 99.5 points in October, down from the 101.7 points recorded for September and below the crucial 100-point threshold that separates pessimism from optimism among households.

The sentiment downturn in October was due to lower assessments of prospective living standards and prospective household income. Consumers were of no different opinion in October than they were in September about prospective household spending or prospective domestic economic conditions. However, limiting the overall sentiment moderation in October was a more upbeat consumer assessment of current domestic economic conditions compared to September.

FocusEconomics Consensus Forecast panelists expect private consumption to expand 2.5% in 2019, which is unchanged from last month’s forecast. For 2020, the panel sees private consumption growth at 2.4%.


Author:, Economist

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