JEJU-DO < invest Korea

The downward trend of Jeju's consumer sentiment index came to a halt and rebounded slightly.

According to the Bank of Korea's "April 2018 Jeju Consumer Trend Survey," released on April 26, Jeju's consumer sentiment index for April was 108.0. The figure is 1.0 points higher than the previous month, putting an end to the downward trend started in February.

If the consumer sentiment index is higher than 100, it means there are many optimistic views about the current economic situation.

Taking a closer look at the major indexes, current living conditions that ask consumers about their current conditions compared to 6 months ago, rose 2 points to 98. Prospects for living conditions, which rates consumers' outlook on the next 6 months, also rose 2 points to 104.

On the other hand, household income and job prospects both declined by one point and two points to 101 and 92, respectively. Wage level outlook was 125, the same as the previous month, and expectation for income was lower than the previous month.

The housing price outlook fell 3 points to 94, reflecting Jeju's stagnant real estate market. The housing price outlook recorded 104 points in January and declined for 3 consecutive months.

Jeju's April consumer sentiment index at 107.1 is 0.9 points higher than the national average.

A Bank of Korea representative remarked, "We attribute the improving numbers to the warming weather and tourist traffic increases."

bsc@newsis.com

Source Text

Source: Newsis (Apr. 26, 2018)

** This article was translated from Korean.