Korea Consumer Confidence September 2020

Korea

Korea: Consumer confidence falls in September, remains pessimistic

September 25, 2020

Consumer confidence fell to 79.4 in September from August's 88.2. As a result, the index remained below the 100-point threshold, and indicated pessimism among consumers.

Consumer sentiment in September concerning current domestic economic conditions deteriorated over the previous month, hand-in-hand with sentiment regarding future domestic economic conditions; both remained downbeat. Additionally, consumers were more pessimistic regarding future household income and future household spending compared to the previous month.

FocusEconomics Consensus Forecast panelists expect private consumption to expand 3.3% in 2020, which is down 0.6 percentage points from last month’s projection. Looking at 2021, our panelists see private consumption growing at 3.3%, which is down 0.1 percentage points from the previous month’s forecast.


Author:, Junior Economist

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Korea Consumer Confidence September 20 20

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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