Consumer sentiment recovers on signs of Corona 19 calm… The prospect of rising house prices is also falling

Consumer sentiment recovers on signs of Corona 19 calm… The prospect of rising house prices is also falling

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4.2P rise to 95.4 consumer sentiment index

Housing price outlook is 2P lower than all-time high

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Shops in Myeongdong Street, Jung-gu, Seoul, on the 26th, are open with lights on signboards, but tourists are stopped and they are showing a sloppy appearance./Reporter Oh Seung-Hyeon 2021.01.26

In January of this year, the consumer sentiment index rose in a month. It is an analysis that the spread of the novel coronavirus infection (Corona 19) has slowed, and the anticipation for vaccination has melted the frozen consumer sentiment. The outlook for the rise in house prices, which reached a record high, has been shown to be weak.

According to the’January 2021 Consumer Trend Survey Results’ released by the Bank of Korea on the 27th, the consumer sentiment index (CCSI) during this month was 95.4, up 4.2 points (p) from the previous month. If the CCSI is higher than 100, consumer sentiment is optimistic, and if it is low, it can be viewed as pessimistic. CCSI rose to 99.0 in November of last year and then rebounded after a month after falling to 91.2 in December with the third spread of Corona 19.

This is because the number of confirmed patients in the 1,000 range at the beginning of this year has decreased to the level of 300-500 as the investigation period entered the last 11-18 days. The number of respondents expecting the economy to improve has increased as the government announced plans to start vaccination in February.

According to the survey, the future economic outlook rose 8 points to 89, and the lifestyle outlook rose 4 points to 93. The current economic judgment (56) and the current life situation (86) remained at the same level as the previous month. The employment period network (80) and the wage level forecast (112) rose by 6 points and 3 points, respectively.

The housing price forecast, which is expected to increase in one year, fell by two points to 130. The housing price forecast rose to a record high of 132 in December last year due to the rising house price. An official from the BOK explained, “It was a slight decline as the index surged for a short period of time despite the increase in apartment sales prices nationwide.”

/ Reporter Jo Ji-won [email protected]

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