Korea: Consumer confidence falls but remains in positive territory in February
Consumer confidence fell to 103.1 in February from January’s 104.4. As a result, the index lies above the 100-point threshold, indicating continued, albeit weaker optimism among consumers.
A surge in Covid-19 cases, increasing geopolitical conflict, and uncertainty regarding March’s election likely contributed to push consumer sentiment down in February. Every sub-component of the index apart from consumers’ expectations of their future living standards decreased. Thus, deteriorations were noted in consumers’ view of their current living standards, their future income and spending plus their view of current and future economic conditions.