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.
Author: Carl Kelly, Economist