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Korea Consumer Confidence January 2020

Korea: Consumer confidence hits a 19-month high in January

The Bank of Korea’s composite consumer sentiment index increased to 104.2 in January—the highest level since June 2018—from 100.5 in December. Consequently, the index remained above the 100-point threshold that separates optimism from pessimism among households—where it has been for the past three months.

The rise in consumer confidence in January was largely driven by households’ more optimistic view towards future household income. Moreover, households’ views regarding the current and future domestic economic conditions were notably less pessimistic in January.

This year, both monetary and fiscal stimulus should support consumer confidence. Moreover, less uncertainty over the U.S.-China trade war should also boost sentiment among households.

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