The Bank of Korea's Consumer Confidence Index (CCSI) fell 1.3p MoM to 103.1 in February, while inflation expectations rose 0.1%p and the future economic outlook fell 2p MoM, showing a high-inflation and low-wage system.
The Bank of Korea announced on the 22nd that in the consumer survey in February, the current living situation decreased by 1p from the previous month, and the outlook for living conditions was the same as the previous month, but both the household income and consumption forecasts fell by 1p from the previous month.
According to the survey, the current economic judgment index was only 75, down 01p (from the previous month), and the future economic outlook was 91, down 2p from the previous month.
The survey shows that the current household debt is the same as the previous month, and the household debt outlook increased by 1p from the previous month.
In the survey, both the household income and consumption outlook showed a decrease of 1p from the previous month, indicating a downturn in the economy.
The housing price outlook, which the government is focusing on promoting downward stability, fell by 3p, the wage level outlook is down 1p from the previous month, the price level forecast index is 152 and the interest rate level forecast index is 139, showing a high price and low wage structure.
The Bank of Korea's Consumer Trend Index (CSI) is a psychological index calculated from six major indices. If the long-term average (January 2003 to December 2021) is above 100, pessimism is indexed if it is below optimism.
This consumer trend survey was conducted from the 8th to the 15th for 2,500 households in cities across the country (2244 responses).