Consumer Sentiments Improve for 3 Consecutive Months
Consumer Sentiments Improve for 3 Consecutive Months
  • Korea IT Times (info@koreaittimes.com)
  • 승인 2015.10.02 15:43
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The consumer sentiment index has increased for three consecutive months. The Bank of Korea said on September 25, "The consumer sentiment index for September has risen by 1 point to 103 from the previous month."

A consumer sentiment index, an indicator that measures the degree of optimism that consumers feel about the overall state of the economy, over and above the benchmark figure of 100 implies that the current consumer sentiment is optimistic. The index once climbed up to a high of 105 in May this year following a decline to 99 in June due to the Middle East respiratory syndrome outbreak. The figure has been on an upward trend for three months after rebounding to 100 in July.

The current economic judgment index that exhibits how consumers feel about the current economic situation was 73, much lower than the benchmark figure of 100. Still, the number of those consumers who see the current situation pessimistic has declined from July and August when the figures were 63 and 71, respectively. As for the future economic outlook index, the figure gained by 1 point to 88 from the previous month's 87.

The Ministry of Strategy and Finance said that consumer spending is rising fast for the past few months due to the revised supplementary budget announced on July 3 and a measure to reinvigorate consumption put out on August 26 including a cut in excise tax for select items such as automobiles and electronics goods. In particular, the "Korea Grand Sale" in place since August 14 for foreigners visiting the country has helped department stores and large discount stores ring up more sales.


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