Gwangju and Jeonnam Consumer Sentiment Index Rises Slightly in October
Bank of Korea Gwangju-Jeonnam Branch Releases Consumer Survey Results
Current Living Conditions and Household Income Outlook Show Modest Recovery
The Consumer Sentiment Index in the Gwangju and Jeonnam regions showed a slight increase.
According to a Consumer Survey conducted by the Gwangju-Jeonnam branch of the Bank of Korea from October 16 to 23, targeting 600 urban households (with 527 responses) in the Gwangju and Jeonnam regions, the Consumer Sentiment Index (CCSI) for October was 111.3, up 0.8 points from the previous month (110.5).
The CCSI is a comprehensive indicator that reflects consumers' perceptions of the economic situation and their outlook for future consumption expenditures. It is calculated using six major indices from the Consumer Survey Index (CSI), with a long-term average set at 100. A value above 100 indicates optimism compared to the long-term average, while a value below 100 indicates pessimism. The nationwide CCSI for October was 109.8, down 0.3 points from the previous month (110.1).
The Current Living Conditions CSI (95) rose by 1 point compared to the previous month, and the Living Conditions Outlook CSI (101) remained unchanged. The Household Income Outlook CSI (102) increased by 2 points from the previous month, while the Consumption Expenditure Outlook CSI (112) stayed at the same level as the previous month.
The Current Economic Assessment CSI (93) increased by 1 point from the previous month, while the Future Economic Outlook CSI (103) decreased by 2 points. The Employment Opportunity Outlook CSI (95) fell by 1 point from the previous month; however, the Interest Rate Outlook CSI (92) increased by 3 points compared to the previous month.
The Current Household Savings CSI (95) rose by 2 points from the previous month, and the Household Savings Outlook CSI (97) increased by 1 point compared to the previous month.
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The Price Level Outlook CSI (132) decreased by 3 points from the previous month, but the Housing Price Outlook CSI (108) rose by 6 points compared to the previous month. The Wage Level Outlook CSI (121) increased by 1 point from the previous month.
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