Home Business With Corona anticipation… Gwangju and Jeonnam Consumer Confidence Rise for Two Consecutive Months

With Corona anticipation… Gwangju and Jeonnam Consumer Confidence Rise for Two Consecutive Months

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The consumer sentiment index in Gwangju and Jeollanam-do rose for the second month in a row.

picture explanationWith Corona anticipation… Gwangju and Jeonnam Consumer Confidence Rise for Two Consecutive Months

According to the Gwangju-Jeonnam Regional Headquarters of the Bank of Korea on the 27th, the October Consumer Sentiment Index (CCSI), which comprehensively shows consumer sentiment about the economic situation, was 104.4, up 4.5 points from the previous month.

The national average was 106.8, up 3.0 points from the previous month.

It is the first time in three months since last July (102.8) that the index exceeded the threshold (100).

The consumer sentiment index in Gwangju and Jeonnam region bottomed at 74.5 in April last year, when the spread of COVID-19 was strong, and then fluctuated depending on whether there was a resurgence, but ended at 89.3 last year.

This year, after recovering 90 to 91.1 in January this year, it surpassed the threshold at 101.3 in May, peaked at 106.9 in June, and then fell below 100 again in August (99.6) and September (99.9).

Consumer sentiment index trend

picture explanationConsumer sentiment index trend

It is analyzed that consumer sentiment is reviving as the Corona 19 inoculation rate rises and the With Corona atmosphere rises.

CCSI is an index that standardizes and synthesizes six major indices such as current living conditions, household income forecast, and consumption expenditure forecast among consumer trend survey items.

A reading above 100 indicates optimism compared to the 2003-2020 average, and a reading below 100 indicates pessimism.

The current living conditions (91) and household income forecast (101) each rose by 3 points, and the future economic outlook (97) also rose by 4 points.

This survey was conducted from the 13th to the 21st of last year on 600 households in Gwangju and Jeollanam-do (528 households responding).

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