Gyeonggi region’s April consumer sentiment index again ‘optimistic’

The economy perceived by consumers in the Gyeonggi region, which had dropped significantly last month and was below the standard, turned upward in just one month and became ‘positive’.

According to the ‘April 2024 Consumer Trend Survey Results in the Gyeonggi Region’ announced by the Bank of Korea’s Gyeonggi Headquarters on the 26th, the Consumer Sentiment Index (CCSI) in the Gyeonggi region was 100.3, up 1.3 points (p) from the previous month (99). During the same period, the national consumer sentiment index was 100.7, the same as the previous month.

CCSI is an index that comprehensively represents consumers’ sentiment regarding the economic situation and is calculated using six major indices among the Consumer Trend Index (CSI). If it exceeds the standard value of 100, it means that consumers’ subjective expectations about the economic situation are more optimistic than the past average (January 2003 to December 2023), and if it is less than 100, it means they are pessimistic.

The consumer sentiment index in the Gyeonggi region, which had steadily increased for three consecutive months since November of last year (97.1) and exceeded the standard (100) in February, fell last month and fell below the standard, but then rose again this month, turning positive.

Specifically, first of all, awareness of the financial situation of households in the province has improved compared to the previous month. The current living situation CSI and living situation outlook CSI recorded 91 and 94, respectively, up 2p and 1p from the previous month, and the consumer expenditure outlook CSI (109) also rose 1p compared to the previous month. The household income outlook CSI was 101, the same as the previous month.

Awareness of future economic conditions also slightly improved. The current economic judgment CSI (68) and future economic outlook CSI (80) both increased by 1 point compared to the previous month. The employment opportunity outlook CSI (84) was the same as the previous month, and the interest rate level outlook CSI (101) increased by 2 points compared to the previous month.

Looking at awareness of household savings and debt situations, the current household savings CSI (95) rose 1 point from the previous month. However, the household savings outlook CSI (96) and the current household debt CSI (96) fell by 2p and 3p, respectively, compared to the previous month. The household debt outlook CSI (96) was the same as the previous month.

The price level forecast CSI (144) was the same as the previous month, and the housing price forecast CSI (100) and wage level forecast CSI (116) increased by 5p and 1p, respectively, during the same period.

[ 경기신문 = 고현솔 기자 ]