Consumption sentiment rising for the second month… House price outlook is negative for 2 consecutive months

▲ The consumer sentiment index (CCSI) has entered an upward trend due to the anticipation of the Corona 19 vaccination.ⓒ Bank of Korea

The consumer sentiment index (CCSI) has entered an upward trend due to the anticipation of the COVID-19 vaccination. On the other hand, the forecast for house prices, which peaked in December last year, fell for two consecutive months.

The February consumer sentiment index released by the Bank of Korea on the 23rd was 97.4, up 2.0p from last month. Arthur last January, up 4.2p from last year’s December. As the third corona19 pandemic enters into a calming phase, the psychological indicators about consumption are drawing an upward curve for two months.

The consumer sentiment index is a psychological index calculated using the consumer trend index ▲ current life situation ▲ life pattern forecast ▲ household income forecast ▲ consumption expenditure forecast ▲ current economic judgment ▲ future economic outlook. Long-term average (January 2003 to December 2020) If it is greater than 100, it is optimistic, and if it is low, it is pessimistic.

Both the current CSI for living conditions (87) and the CSI for living conditions (94) compared to the previous month

1p rose. In addition, the household income forecast CSI (96) remained at the level of the previous month, while the consumption expenditure forecast CSI (104) fell 2p from the previous month.

The awareness of the economic situation has also improved slightly.

Current economic judgment CSI (63) and future economic outlook CSI (90) respectively

It rose by 7p and 1p. In addition, the CSI (80) for employment period remained at the level of the previous month, while the CSI (104) for the interest rate level forecast rose 2p from the previous month.

Both the current household savings CSI (92) and the household savings outlook CSI (94) remained at the previous month’s level, while the current household debt CSI (102) and household debt outlook CSI (99) both fell 1p MoM. Inflation level outlook CSI (144) rose 2p MoM. In addition, the wage level forecast CSI (112) was maintained at the previous month level.

The housing price outlook index (129), which was at its highest level until December last year, has gone downhill for two months. The housing price outlook index fell 2p to 130 in January after recording 132 in December, and decreased by 1p to 129 in February.