S. Korean consumer confidence improves in Oct. – BOK

South Korea’s Composite Consumer Sentiment Index (CCSI) for October 2024 rose 1.7 points to 101.7 compared to a month earlier, as per a resent survey published by the Bank of Korea (BOK) on Wednesday.

The survey also showed that sentiment about future household income and spending both increased by one point to 99 and 109, respectively.

Regarding the domestic economy, consumers’ views of current conditions rose two points to 73, and their outlook for future conditions improved by the same margin to 81.

The expected inflation rate for the next year was seen at 2.8 per cent, while the three-year and five-year ahead expected inflation rates were projected at 2.7 per cent and 2.6 per cent, respectively.

Attribution: Bank of Korea survey

Subediting: M. S. Salama