Korea: Consumer sentiment turns pessimistic
August 27, 2012
In August, the Consumer Sentiment Index (CSI) published by the Bank of Korea dipped to 99 points from 100 points in July, reaching the lowest level seen in seven months, as the European debt crisis intensifies. With the monthly deterioration, the index has fallen below the 100-point threshold that separates optimistic from pessimistic territory. Compared with July, households were substantially more pessimistic about both their current and future domestic economic conditions. On the other hand, households' expectations about their short-term spending plans improved slightly.