Bank of Korea: Consumer Sentiment in Gwangju and Jeonnam Slightly Rebounds

Up 4 Points from Last Month... Higher Than the National Average
Recovery Expected in Living Conditions and Household Income Outlook
Economic Outlook for the Future Rises by 11 Points on Hopes of Recovery

Perceptions of household financial conditions among consumers in the Gwangju and Jeonnam regions remained the same as last month, but the Consumer Sentiment Index, including outlooks for household income and expenditures, showed an increase.

According to the Gwangju Jeonnam branch of the Bank of Korea on the 24th, a survey conducted from the 9th to the 16th on 600 urban households in the Gwangju and Jeonnam regions found that this month’s Composite Consumer Sentiment Index (CCSI) was 83.4, up 4.0 points from the previous month’s 79.4.

The Consumer Survey Index is a statistical indicator derived from survey responses regarding consumers’ perceptions of the economic situation and their outlook for future consumption expenditures. Nationwide, the CCSI for this month was 91.2, up 3.0 points from last month’s 88.2.

The Current Living Conditions CSI (80) remained unchanged from the previous month, while the Living Conditions Outlook CSI (81) rose by 3 points. Both the Household Income Outlook CSI (91) and the Consumption Expenditure Outlook CSI (102) increased by 3 points compared to the previous month.

The Current Economic Assessment CSI (41) decreased by 2 points from the previous month, while the Economic Outlook CSI (57) increased by 11 points. The Employment Opportunity Outlook CSI (62) and the Interest Rate Outlook CSI (95) rose by 8 points and 3 points, respectively. The Current Household Savings CSI (85) rose by 1 point, and the Household Savings Outlook CSI (87) increased by 3 points from the previous month.

The Price Level Outlook CSI (142) rose by 2 points from the previous month, while the Housing Price Outlook CSI (92) dropped by 2 points. The Housing Price Outlook Index reflects consumer expectations for housing prices one year from now. If the index exceeds 100, it means more consumers expect housing prices to rise than to fall.