South Korea Consumer Confidence

Last Release

Dec 31, 2024

Actual

88.4

Units In

Points

100.7

Frequency

Monthly

Next Release

Jan 21, 2025

Time to Release

27 Days 20 Hours

Highest	Lowest	Average	Date Range	Source
121.5 Oct 2009	67.7 Dec 2008	99.91 Points	1998-2024	The Bank of Korea

In South Korea, the Composite Consumer Sentiment Index (CCSI) measures the level of optimism that consumers have about the performance of the economy. The index is based on a survey of around 2200 households. The CCSI is computed as a sum of six variables, including current living standards, prospective household income and prospective spending. A CCSI above 100 indicates an improving outlook and below 100 a deteriorating outlook.

Latest Updates

The Composite Consumer Sentiment Index (CCSI) in South Korea dropped to its lowest point in over two years this December, with the index falling from 100.7 in November to 88.4. This decline highlights growing economic concerns driven by political uncertainty following the impeachment of President Yoon Suk Yeol on December 14, after his controversial declaration of martial law on December 3. The political instability has had a significant economic impact, including a sharp decline in the benchmark Kospi index and the South Korean won hitting a 15-year low. Consumer spending expectations also fell notably, with reduced sentiment toward travel, dining, and durable goods. Governor Rhee Chang-yong stressed the importance of fiscal measures to support the economy and maintain growth during this challenging period.