Korea Consumer Confidence November 2021

Korea

Korea: Consumer confidence hits highest reading since June in November

November 23, 2021

Consumer confidence rose to 107.6 in November from October's 106.8. November's result marked the strongest sentiment since June. As a result, the index remained above the 100-point threshold, and indicated optimism among consumers.

Overall, the slight ease in restrictions from 1 November likely boosted sentiment. In more detail, consumers became more upbeat about their prospective spending, as well as becoming slightly less pessimistic about the future of the labor market. Meanwhile, households also took a more positive stance toward the future of interest rates.

FocusEconomics Consensus Forecast panelists expect private consumption to expand 3.2% in 2022, which is down 0.2 percentage points from last month’s projection. Looking at 2023, our panelists see private consumption growing 2.0%.


Author:, Junior Economist

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Korea Consumer Confidence November 2021 0

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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