The figure represents a decrease of one point from the previous month.
The December CCSI is based on a survey of 2,022 households nationwide the Bank of Korea (BOK) conducted between Dec. 10 and 17. A CCSI above 100 indicates that consumers’ subjective expectations as to the economic situation are more positive than the past (2003-2013) average, and one below 100 that they are more negative.
BOK officials attributed the fall in the index to external factors such as weakening yen, falling international crude oil prices and the Russian financial crisis, as well as sluggish domestic consumption.
The results of the survey also include:
―Consumer sentiment on current living standards was one point lower than in November at 89, while that for their outlook was one point higher 98.
―Consumer sentiment regarding current domestic economic conditions was three points below the November figure at 71, and that for their future outlook two points lower at 85.
―Consumer sentiment on prospective changes in household income was down by one point at 100, and that on expected spending two points less at 106.
-The expectation for inflation over the following year was 2.6 percent.
reporter
Park Sae-jin
swatchsjp@ajunews.com
