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SOUTH KOREA: Consumer Confidence Dips for September

SOUTH KOREA
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  • Consumer confidence edged down in September to 100 from 100.8.
  • Inflation expectations declined; a move consistent with the BOK’s decision to hold rates steady.
  • House price expectations continue to rise, consistent with the BOK’s concerns as to the property market in Seoul and the rise in debt levels that goes with it.
  • This data point shows the push pull that exists in the South Korean economy at present with the politicians siding with the consumers (whose confidence is decline) and asking for cuts whilst the Central Bankers focus on the Seoul property market. 
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  • Consumer confidence edged down in September to 100 from 100.8.
  • Inflation expectations declined; a move consistent with the BOK’s decision to hold rates steady.
  • House price expectations continue to rise, consistent with the BOK’s concerns as to the property market in Seoul and the rise in debt levels that goes with it.
  • This data point shows the push pull that exists in the South Korean economy at present with the politicians siding with the consumers (whose confidence is decline) and asking for cuts whilst the Central Bankers focus on the Seoul property market.