Korea: Consumer confidence hits highest reading since January 2020 in March
Consumer confidence came in at 100.5 in March, up from February’s 97.4. March’s result marked the strongest reading since January 2020, and the first positive result since the beginning of the pandemic. Consequently, the index moved above to the 100-point threshold, indicating optimism among consumers.
The uptick came amid easing pessimism regarding current domestic economic conditions and current living standards. In addition, better prospects for household spending supported the uptick, suggesting consumer spending is likely to gain steam ahead. Moreover, employment prospects improved. Lastly, expectations regarding future interest rates were significantly more upbeat.