Korea: Consumers slightly less optimistic in October
October 29, 2014
The Composite Consumer Sentiment Index (CCSI) published by the Bank of Korea (BoK) edged down from 107 points in September to 105 points in October. October’s reading marked the lowest level in three months. Nevertheless, the index is still above the 100-point threshold that separates optimism from pessimism.
According to the BoK, October’s reading was driven by consumers’ more pessimistic assessments regarding both their current and future domestic economic conditions. Households’ views on their current and prospective living standards were also more pessimistic than last month. Households’ expected income and spending remained virtually unchanged.
Author: Cecilia Simkievich, Economist