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ANZ-Roy Morgan South Korean Consumer Confidence fell in December to 82.3
December 15 2015
- Finding No.
Consumer Confidence Press Release
The monthly ANZ-Roy Morgan South Korea Consumer Confidence Index is based on 1,000 telephone interviews conducted throughout South Korea. Men and women aged 14 and over were randomly selected during the month of December 2015.
ANZ Senior Economist Raymond Yeung said:
- ANZ-Roy Morgan South Korea Consumer Confidence fell by 1.3pts to 82.3 in December, compared with 83.6 last month.
- In terms of personal finances now 11% (up 1ppt) of respondents said their families are ‘better off’ financially than this time last year, compared to 42% (up 2ppts) that said their families are ‘worse off’.
- Now, under a quarter of respondents, 24% (down 3ppts), expect their family will be ‘better off’ financially this time next year, while 36% (up a large 6ppts) expect their family to be ‘worse off’ financially.
- Thinking of economic conditions in South Korea going forward, a fifth (20%; down 4ppts) of respondents expect South Korea will have ‘good times’ economically over the next 12 months, compared to 63% (up 4ppts), that expect ‘bad times’ economically.
- Over the longer-term, now 37% (down 1ppt) of respondents expect South Korea will have ‘good times’ financially during the next five years and a slightly higher number – 40% (down 1ppt) – expect ‘bad times’ financially for South Korea.
- Now 36% (up a large 9ppts) of respondents say now is a ‘good time to buy’ major household items, while 36% (down 2ppts) say now is a ‘bad time to buy’ major household items.
“The impact of the post-MERS recovery has peaked, yet household sentiment still managed to beat the level in the same month last year. Private consumption in Korea is expected to hold up in Q4.
"However, with the end of the post-MERS recovery, policymakers can no longer stay put, as the improvement of economic sentiment failed to be sustained, exactly consistent with the recent assessment by the Bank of Korea. Today’s data reinforces our call for cutting the interest rate by 50bps in H1 2016.”
Click here to view the latest, and the final, ANZ-Roy Morgan South Korean Consumer Confidence Release PDF - December 2015.
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