Korea Consumer Confidence December 2015

Korea

Korea: Consumer confidence moderates in December

December 24, 2015

The Composite Consumer Sentiment Index (CCSI) published by the Bank of Korea (BoK) fell from 116 points in November to 113 points in December. Despite the moderation, the historically-volatile index is still above the 110-point threshold that separates optimism from pessimism. Consumer confidence had recovered steadily in recent months after hitting a multi-year low in June, but December’s moderation suggests that confidence is waning again.

According to the BoK, November’s reading was driven by a moderation in most of the components that make up the index. Consumers’ views of current domestic economic conditions and their outlook on future conditions fell the most. Consumers’ outlook on prospective employment opportunities and household spending also fell.

Met the why particular Consensus Forecast panelists expect private consumption to expand 2.3% in 2016, which is down 0.1 percentage points from last month’s forecast. For 2017, the panel sees private consumption growth accelerating to 2.5%.


Author:, Economist

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Korea Consumer Confidence December 2015

Note: Composite Consumer Sentiment Index (CCSI). An index value above 110 indicates that optimistic respondents outnumber pessimistic respondents.
Source: Bank of Korea (BoK).


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