Korea Consumer Confidence February 2016

Korea

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.

FocusEconomics Consensus Forecast panelists expect private consumption to expand 2.3% in 2016, which is unchanged from last month’s forecast. For 2017, the panel sees private consumption growth accelerating to 2.4%.


Author: Teresa Kersting, Economist

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Korea Consumer Confidence February 2016

Note: Composite Consumer Sentiment Index (CCSI). An index value above 100 indicates that optimistic respondents outnumber pessimistic respondents.
Source: Bank of Korea (BoK).


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