Korea: Consumer confidence improves in August but remains pessimistic
The Bank of Korea’s composite consumer sentiment index increased to 88.2 in August from July’s 84.2. August’s result marked the best reading since February. As a result, the index moved closer to the 100-point threshold, but still signaled pessimism among consumers.
Consumer sentiment in August regarding future household income improved slightly. Notably, expectations on future household spending increased markedly, rising close to neutral territory. Additionally, consumers grew less gloomy regarding current and future domestic economic conditions.