Korea: Consumers turn pessimistic in February, sentiment falls to over-four year low
February 25, 2016
The Composite Consumer Sentiment Index (CCSI) published by the Bank of Korea (BoK) fell from 100 points in January to 98 points in February, marking the lowest result in over four years. As a result, the typically-volatile index fell below the 100-point threshold, which indicates that pessimists outnumber optimists. February’s reading thus represented a fallback into pessimistic territory following seven months of neutral or optimistic mood among consumers.
According to the BoK, February’s setback reflects a moderation in most of the components that make up the index. Consumer’s views of future interest rate and price developments as well as of current and future economic conditions in Korea recorded the largest drops.