Korea: Consumer confidence falls sharply in July
Consumer confidence came in at 86.0 in July, down from June’s 96.4. July’s result marked the weakest sentiment since September 2020. Consequently, the index remained below the 100-point threshold, indicating sustained pessimism among consumers.
The headline print reflected a sharp deterioration in consumers’ assessment of current domestic economic conditions, their future expectations for the economy and prospective employment opportunities. It should also be noted that changes to the survey’s sample likely influenced consumer confidence in the July.