Friday, March 28th, 2014
SEOUL, KOREA - The Consumer Sentiment Index, the index measuring perception of consumers on the current state of the economy, stayed above the 100 level in March for 15 consecutive months. As for expected inflation that measures the inflation rate one year from now, it turned to a downward trend in six months.
According to a report "March 2014 Consumer Survey Results" published by the Bank of Korea on March 27, the month's consumer sentiment index was 108, following the same level in February. The consumer sentiment index over and above 100 implies there are more consumers who express optimism on the state of the economy than those who are pessimistic. Since recording an index of 99 in December 2012, it has consistently been over 100 for 15 months in a row.
Although there are other indexes showing a negative trend, it is clear that the recovery pace is here to stay. The current livelihood index that shows the current living conditions in comparison with that six months ago fell 2 points to 91 from the previous month. The job opportunity outlook CSI gained 2 points to 96 from February, but still hovering around the below-100 level.
As for the future economic outlook CSI that indicates economic prospect 6 months from now, it rose 3 points to 102, rising over the 100 level for the first time in 25 months since hitting the peak of 104 in December 2010. Jeong Moon-gap, senior manager with the Bank of Korea responsible for economic statistics, said, "Consumer perception on economic conditions is moving toward neutral to positive."