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South Korean Consumer Confidence Up Slightly in April

The Bank of Korea (BOK) said today that consumer confidence in South Korea recovered in April, supported by the government’s easing of social distancing measures.

According to the BOK, the Consumer Confidence Index (CCSI) was 103.8 in April, up 0.6 points from March.

The CCSI index rose for the second consecutive month as the government lifted all measures to contain the COVID-19 outbreak.

The South Korean health authority estimates that the number of people infected with COVID-19 in May reached its highest level since mid-March.

However, the subindex shows unidirectional results. The cost-of-living index is currently up two points, but cost-of-living forecasts fell one point in April from the previous month.

The indices for future household income and expenditure remained stable at 99 and 114 points, respectively, but the index for the current economic situation rose by 3 points.

Inflation expectations, a measure of consumers’ expectations for overall inflation over the next 12 months, rose 0.2% in April from the previous month to 3.1%.

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