Korea: Consumer confidence deteriorates in December
December 29, 2020
Consumer confidence came in at 89.8 in December, down from November's 97.9. As a result, the index moved further below the 100-point threshold separating pessimism from optimism among consumers.
The downturn was broad-based, led mainly by households’ grimmer perspective on current and future economic conditions, likely as a consequence of tighter Covid-19 restrictions since November. Accordingly, consumer sentiment also deteriorated regarding both current and future living standards, as well as future income and spending.
Author: Frederico Teixeira de Abreu, Junior Economist