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Korea Consumer Confidence August 2023

Korea: Consumer confidence dips slightly in August

Consumer confidence fell to 103.1 in August from July’s 103.2. However, the index remained above the 100-point threshold, indicating that consumers were still optimistic.

The marginal decrease in the index was mostly due to households becoming more pessimistic about the economy in the present and 12 months ahead. Meanwhile, consumer expectations for inflation a year ahead were stable at 3.3%.

Despite the decline, consumer confidence was still higher in July and August than in Q2, likely supporting private spending in the third quarter.

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