The Composite Consumer Sentiment Index (CCSI) climbed to 101.9 points in February of 2024 from 101.6 in the prior month. It pointed to the highest reading since August 2023 due to moderating inflation, a recovery in exports and hopes for an end to rate hikes. Consumer sentiment regarding current living standards rose to 90 (vs 89 points in January), and that concerning the future outlook was unchanged at 94. Consumer sentiment related to future household income remained stable at 100, and that concerning future household spending was unchanged at 111. Consumer sentiment concerning current domestic economic conditions went up to 70 (vs 69 points), and that concerning future domestic economic conditions fell to 80 (vs 81 points). Meanwhile, the expected inflation rate for the upcoming year remained at 3.0%. source: The Bank of Korea

Consumer Confidence in South Korea increased to 101.90 points in February from 101.60 points in January of 2024. Consumer Confidence in South Korea averaged 100.35 points from 1998 until 2024, reaching an all time high of 122.10 points in October of 2009 and a record low of 69.20 points in December of 2008. This page provides the latest reported value for - South Korea Consumer Confidence - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. South Korea Consumer Confidence - data, historical chart, forecasts and calendar of releases - was last updated on February of 2024.

Consumer Confidence in South Korea increased to 101.90 points in February from 101.60 points in January of 2024. Consumer Confidence in South Korea is expected to be 100.00 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the South Korea Consumer Confidence is projected to trend around 100.00 points in 2025, according to our econometric models.

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South Korea Consumer Confidence


Calendar GMT Reference Actual Previous Consensus TEForecast
2024-01-23 09:00 PM
Consumer Confidence
Jan 101.6 99.5 98.4
2024-02-19 09:00 PM
Consumer Confidence
Feb 101.9 101.6 101.7
2024-03-25 09:00 PM
Consumer Confidence
Mar 100


Related Last Previous Unit Reference
Consumer Confidence 101.90 101.60 points Feb 2024
Consumer Spending 234316.20 233734.30 KRW Billion Dec 2023
Disposable Personal Income 2191418.90 2099125.20 KRW Billion Dec 2022
Personal Savings 32.90 33.50 percent Sep 2023
Consumer Credit 1886364.70 1878349.00 KRW Billion Dec 2023
Bank Lending Rate 5.14 5.26 percent Dec 2023
Economic Optimism Index 93.00 92.00 points Feb 2024

South Korea Consumer Confidence
In South Korea, the Composite Consumer Sentiment Index (CCSI) measures the level of optimism that consumers have about the performance of the economy. The index is based on a survey of around 2200 households. The CCSI is computed as a sum of six variables, including current living standards, prospective household income and prospective spending. A CCSI above 100 indicates an improving outlook and below 100 a deteriorating outlook.
Actual Previous Highest Lowest Dates Unit Frequency
101.90 101.60 122.10 69.20 1998 - 2024 points Monthly
NSA

News Stream
South Korea Consumer Morale Reaches a 6-Month High
The Composite Consumer Sentiment Index (CCSI) climbed to 101.9 points in February of 2024 from 101.6 in the prior month. It pointed to the highest reading since August 2023 due to moderating inflation, a recovery in exports and hopes for an end to rate hikes. Consumer sentiment regarding current living standards rose to 90 (vs 89 points in January), and that concerning the future outlook was unchanged at 94. Consumer sentiment related to future household income remained stable at 100, and that concerning future household spending was unchanged at 111. Consumer sentiment concerning current domestic economic conditions went up to 70 (vs 69 points), and that concerning future domestic economic conditions fell to 80 (vs 81 points). Meanwhile, the expected inflation rate for the upcoming year remained at 3.0%.
2024-02-19
South Korea Consumer Morale Rises to 5-Month High
The Composite Consumer Sentiment Index (CCSI) climbed to 101.6 points in January of 2024 from 99.5 in the prior month. It pointed to the highest reading since August 2023 due to moderating inflation, a recovery in exports and hopes for an end to rate hikes. Consumer sentiment regarding current living standards rose to 89 (vs 88 points in October), and that concerning the future outlook increased to 94 (vs 92 points). Consumer sentiment related to future household income rose to 100 (vs 99 points), and that concerning future household spending was unchanged at 111. Consumer sentiment concerning current domestic economic conditions went up to 69 (vs 67 points), and that concerning future domestic economic conditions rose to 81 (vs 77 points). Meanwhile, the expected inflation rate for the upcoming year eased to 3.0% from 3.2% in the previous month.
2024-01-23
South Korea Consumer Morale Snaps 4-Month Decline
The Composite Consumer Sentiment Index (CCSI) rose to 99.5 points in December of 2023 from 97.2 in a month earlier. It ended four consecutive months of decline in consumer confidence due to moderating inflation, a recovery in exports and hopes for an end to rate hikes. Consumer sentiment regarding current living standards rose to 88 (vs 87 points in October), and that concerning the future outlook increased to 92 (vs 90 points). Consumer sentiment related to future household income rose to 99 (vs 98 points) , and that concerning future household spending was unchanged at 111. Consumer sentiment concerning current domestic economic conditions went up to 67 (vs 62 points), and that concerning future domestic economic conditions rose to 77 (vs 72 points). Meanwhile, the expected inflation rate for the upcoming year fell to 3.2% from 3.4% in the previous month.
2023-12-26