Gwangju-Jeonnam March Consumer Sentiment Index 96.5... Rising for 3 Consecutive Months

[Asia Economy Honam Reporting Headquarters Reporter Lee Gwan-woo] The consumer sentiment index in the Gwangju-Jeonnam region showed an upward trend for the third consecutive month.

According to the results of the "March Gwangju-Jeonnam Regional Consumer Trend Survey" announced by the Bank of Korea Gwangju-Jeonnam Headquarters on the 29th, the Consumer Confidence Index (CCSI) for the Gwangju-Jeonnam region this month was 96.5, up 3.9 points from the previous month.

The CCSI is a sentiment indicator calculated by standardizing six major Consumer Sentiment Indices (CSI) that represent consumers' perceptions of the economic situation.

Based on the long-term average from January 2003 to December 2019 set as the baseline value of 100, a CCSI above 100 indicates optimism, while below 100 indicates pessimism.

The Gwangju-Jeonnam region's CCSI has shown an upward trend for three consecutive months since recording 89.3 in December last year. By period, it was 91.1 in January, 92.6 in February, and 96.5 in March of this year.

Looking at detailed items, indices reflecting perceptions of household financial conditions generally rose this month.

Except for the Living Conditions Outlook CSI (93), which remained unchanged, the Current Living Conditions CSI (85) and Household Income Outlook CSI (95) increased by 1 point and 5 points respectively compared to the previous month.

The Consumption Expenditure Outlook CSI (103) also rose by 5 points during the same period.

Improvements in perceptions of the economic situation were also notable.

All CSIs for Current Economic Conditions, Future Economic Outlook, Employment Opportunity Outlook, and Interest Rate Level Outlook increased compared to the previous month.

Perceptions of household savings and debt conditions remained stable.

Only the Household Savings Outlook CSI rose by 1 point compared to the previous month.

The Current Household Savings, Current Household Debt, and Household Debt Outlook CSIs showed no change.

Perceptions of the inflation situation also showed little change.

The Inflation Level Outlook and Housing Price Outlook CSIs remained the same as the previous month, while the Wage Level Outlook CSI rose by 1 point during the same period.

This content was produced with the assistance of AI translation services.