Korea: Consumer sentiment stabilizes in February
February 27, 2013
In February, the Consumer Sentiment Index (CSI) published by the Bank of Korea remained stable at January's 102 points. At the current level, the index remains above the 100-point threshold that separates optimistic from pessimistic territory, suggesting improving prospects for consumer spending in coming months.
Compared to January, households were more optimistic in evaluating the current situation and the domestic economic conditions. That said, prospects for consumer spending and household income deteriorated slightly compared to the previous month.
FocusEconomics Consensus Forecast panellists expect private consumption to expand 2.4% this year, which is unchanged from last month's forecast. For next year, the panel sees private consumption accelerating to 2.9%.