Gwangju and Jeonnam Consumer Sentiment Turns "Optimistic" for First Time in Three Years

Bank of Korea Regional Branch
"Consumer Sentiment in Gwangju and Jeonnam Turns Optimistic for the First Time in Over Three Years"
Composite Consumer Sentiment Index Surpasses Baseline of 100 in June

The consumer sentiment index in Gwangju and Jeonnam has turned "optimistic," surpassing the baseline for the first time in over three years.

According to a consumer trend survey conducted by the Bank of Korea's Gwangju-Jeonnam branch on June 25, which targeted 600 urban households in Gwangju and Jeonnam (with 518 responses), the Composite Consumer Sentiment Index (CCSI) for June stood at 101.5, up 6.8 points from the previous month.

This is the first time in 37 months, since May 2022, that the consumer sentiment index in Gwangju and Jeonnam has exceeded the baseline value of 100.

The consumer sentiment index is calculated using six major indices from the Consumer Survey Index (CSI). The long-term average (from 2003 to 2024) is set as the baseline value of 100; a higher value indicates optimism, while a lower value indicates pessimism.

The nationwide consumer sentiment index for June was 108.7.

The Current Living Conditions CSI, which reflects perceptions of household financial situations, was 84, up 2 points from the previous month, while the Living Conditions Outlook CSI rose by 5 points to 98.

The Household Income Outlook CSI (98) increased by 3 points, and the Consumer Spending Outlook CSI (107) rose by 2 points. The Current Economic Assessment CSI (63) climbed by 10 points from the previous month, the Future Economic Outlook CSI (106) increased by 17 points, and the Employment Opportunity Outlook CSI (99) rose by 15 points.

The Price Level Outlook CSI (124), which reflects perceptions of price trends, fell by 7 points from the previous month, indicating that many expect the trend of price stability to continue.

The Housing Price Outlook CSI (110) rose by 8 points compared to the previous month, and the Wage Level Outlook CSI (120) also increased by 3 points.