Optimism
The Bank of Korea announced on May 26 that the Composite Consumer Sentiment Index (CCSI) reached 105 points in May this year, to rise by one point from a month ago and continue to increase for the second consecutive month.
A CCSI exceeding 100 points means that households that are optimistic about future economic conditions outnumber the others. The CCSI added up to 107 points in September last year but fell to 101 points at the end of 2014. It showed some fluctuations in the first quarter of this year.
Among the six items that constitute the CCSI, the current livelihood and the consumption expenditure forecast rose by one point each. In other words, the ratio of those who answered that their livelihood is now better than half a year ago increased compared to a month earlier, along with that of the forecasts that their consumption expenditure would be improving in six months.
The livelihood prospect and the assessment of the current economic conditions increased by two points each as well. In consumption expenditure, a two point rise was witnessed with regard to durable goods, dining, traveling, and entertainment, whereas a two point drop was recorded concerning transportation and communication.