Korea: Consumer sentiment rebounds in April
April 26, 2011
In April, the Consumer Sentiment Index (CSI) published by the Bank of Korea stepped up to 100 points from 98 points in March. The result marks the first increase in the index after four consecutive monthly drops and suggests a recovery in economic sentiment after the index plunged in March to its lowest level in almost two years. With the April reading, consumer confidence sits on the 100-point threshold that separates optimism from pessimism, implying uncertainty in the outlook for private consumption over the coming months. April's survey result represented a rebound from March's reading, when the aftermath of the earthquake crisis in Japan strongly affected Korean households' opinions. While assessment and expectations regarding the general economy recorded the strongest improvement, households' outlook regarding their income in the short term also recovered, leading to better prospects for major purchases going forward.
Author: Armando Ciccarelli, Head of Data Solutions