Despite the 4th Wave... Consumer Sentiment Index Rebounds After Three Months

[Asia Economy Honam Reporting Headquarters Reporter Park Jin-hyung] Amid the ongoing spread of COVID-19, consumer sentiment in the Gwangju area has shown a slight improvement.

According to the 'Consumer Sentiment Survey' released by the Bank of Korea on the 28th, the Consumer Confidence Index (CCSI) for September was 99.9, up 0.3 points from the previous month.

After falling for two consecutive months in June (106.9) and July (102.8), it recorded an upward trend for the first time in three months.

However, it was 3.9 points lower than the national average of 103.8, showing regional disparities.

The Consumer Confidence Index is calculated using six indices from the Consumer Sentiment Survey, including current living conditions, household income outlook, and consumption expenditure outlook. A value above 100 indicates a more optimistic view compared to the 2003?2019 average.

Within the Consumer Confidence Index, current living conditions and current economic assessment each fell by 2 points compared to the previous month, while the household income outlook remained at the same level.

On the other hand, living condition outlook rose by 1 point, consumption expenditure outlook by 2 points, and future economic outlook by 1 point.

Looking at the indices that make up the Consumer Sentiment Index (CSI), the employment opportunity outlook CSI (84) remained the same as the previous month, while the interest rate level outlook CSI (129) rose by 7 points as the Bank of Korea mentioned the possibility of an additional base rate hike.

The price level outlook CSI (138), housing price outlook CSI (127), and wage level outlook CSI (117), which reflect perceptions of the inflation situation, each fell by 1 point, 1 point, and 3 points respectively.