Korea: Consumer sentiment drops in February
February 24, 2011
In February, the Consumer Sentiment Index (CSI) published by the Bank of Korea fell to 105 points from 108 points in January, marking a third consecutive monthly drop in the index and dragging consumer sentiment to its lowest level since May 2009. That said, consumer confidence remains above the 100-point threshold that separates optimism from pessimism, suggesting that private consumption will continue to support economic growth in the coming months. Respondents to the survey reported a negative assessment regarding their current personal financial situation. In addition, households have a pessimistic outlook regarding their income in the short term, leading to deteriorating prospects for major purchases going forward.
Author: Armando Ciccarelli, Head of Data Solutions