South Korea's Consumer Confidence Climbs 3.0 Points in January 2025

Seoul, South Korea—The Bank of Korea reported on Tuesday that South Korea's consumer sentiment index rose in January 2025, marking an increase from the previous month, despite an improving economic outlook.

The Composite Consumer Sentiment Index (CCSI) reached 91.2 in January, up 3.0 points from 88.2 in December 2024.

The monthly survey, which collected responses from 2,330 households out of 2,500 surveyed, showed notable improvement in expectations for future economic conditions.

The consumer outlook for future domestic economic conditions increased significantly by nine points to 65, and the employment prospects index rose by four points to 69.

The outlook for living standards improved by three points to 89, while current living standards held steady at 87. 

Future household income expectations increased by two points to 96.

Expected inflation rates remained stable. Consumers anticipated a 2.8% inflation rate for the coming year, down 0.1 percentage points from December. 

Both three-year and five-year inflation expectations settled at 2.6%.

The current domestic economic conditions index declined one point to 51, and consumer expectations for housing prices decreased by two points to 101.

The wage outlook strengthened, with the index rising three points to 118. 

Household debt sentiment showed marginal improvement, with the current debt index declining one point to 100.

The prospective household spending index edged up one point to 103, while savings indicators showed slight improvements. 

Current and future savings indices rose one point each to 93 and 95, respectively.