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ANZ-Roy Morgan South Korean Consumer Confidence Unchanged in May

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 May 2015.
HIGHLIGHTS

  • ANZ-Roy Morgan South Korea Consumer Confidence remained unchanged at 79.3 in May.

  • In terms of personal finances, 12.6% (up 2.7ppts) of respondents said their families are ‘better off’ financially than this time last year, compared to 41.1% (down 1.1ppts) that said their families are ‘worse off’.

  • A quarter of respondents, 25.2% (up 0.7ppt), expect their family will be ‘better off’ financially this time next year while 36.3% (up 3.2ppts), expect their family to be ‘worse off’ financially this time next year.

  • Thinking of economic conditions in South Korea going forward, 19.5% (down 2.0ppts) of respondents expect South Korea will have ‘good times’ economically over the next 12 months compared to 60.7% (up 0.3ppt), that expect ‘bad times’.

  • Over the longer term, 36.0% (up 0.2ppt) of respondents expect South Korea will have ‘good times’ economically during the next five years and 43.3% (up 1.2ppts), expect ‘bad times’ for South Korea.

  • 26.3% (up 0.5ppt) of respondents say now is a ‘good time to buy’ major household items while 41.6% (down 1.8ppts) say now is a ‘bad time to buy’ major household items.

  • Inflation expectation remains unchanged at 2.6%.
ANZ’s Senior Economist Raymond Yeung said:

“South Korea’s ANZ-Roy Morgan Consumer Confidence continued to be subpar. The overall economic sentiment is still weak and fragile. While we forecast that the economy will grow by 3.1% in 2015, we are inclined to revise our current forecast downward if growth momentum fails to pick up on time.

"Both Finance Minister Choi Kyung-hwan and the Bank of Korea Governor Lee Ju-yeol expressed their concern on youth unemployment last week. Their views on economic recovery seem to have become more dovish. We believe that the government will maintain an expansionary economic policy and the monetary policy stance of BOK will continue to remain accommodative.”

ANZ-Roy Morgan South Korean Consumer Confidence - May 2015 - 79.3

ANZ-Roy Morgan South Korean Consumer Confidence Rating - May 2015 - 79.3

Click to view the latest ANZ-Roy Morgan South Korean Consumer Confidence Release PDF - May 2015.


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The latest Roy Morgan Consumer Confidence Monthly Report is available on the Roy Morgan Online Store. It provides demographic breakdowns for Age, Sex, State, Region (Capital Cities/ Country), Generations, Lifecycle, Socio-Economic Scale, Work Status, Occupation, Home Ownership, Voting Intention, Roy Morgan Value Segments and more.

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