Korea Consumer Confidence November 2022

Korea

Korea: Consumer confidence eases in November

November 22, 2022

Consumer confidence fell to 86.5 in November from October's 88.8, meaning the index remained below the 100-point threshold, indicating worsening pessimism among consumers.

The decrease in the index in November reflected a broad-based deterioration in its subcomponents, including current and future domestic economic conditions and prospective living standards. The only subcomponent not to worsen was consumers' views of current living standards.

Consumer expectations for inflation a year ahead stood at 4.2% in November (October: 4.3%).

FocusEconomics panelists expect private consumption to expand 1.9% in 2023, which is down 0.2 percentage points from last month’s projection. Looking at 2024, our panelists see private consumption growing 2.0%.


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Korea Consumer Confidence November 2022 0

Note: Composite Consumer Sentiment Index (CCSI). An index value above 100 indicates that optimistic respondents outnumber pessimistic respondents.
Source: Bank of Korea (BoK).


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