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Korea Consumer Confidence November 2019

Korea: Consumer confidence hits a six-month high in November, as households turn optimistic

The Bank of Korea’s composite consumer sentiment index increased to 100.9 in November from 98.6 in October. Consequently, the index jumped slightly above the 100-point threshold that separates optimism from pessimism among households.

The jump in consumer confidence in November was largely driven by households’ rosier outlook on both current and future domestic economic conditions, while households’ views on prospective living standards and household income also improved. Moreover, households’ outlook on future employment opportunities, future household spending and home prices all increased in November from the previous month.

Going forward, both monetary and fiscal stimulus should support consumer confidence. That said, uncertainty over the U.S.-China trade war and a gloomier global growth backdrop will likely keep consumer sentiment relatively subdued.

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