Korea Consumer Confidence February 2021

Korea

Korea: Consumer confidence picks up but remains in negative territory in February

February 23, 2021

Consumer confidence rose to 97.4 in February from January's 95.4, amid easing restrictions nationwide on 15 February. As such, the index moved closer to the 100-point threshold, but still indicated pessimism among consumers.

The uptick was mainly driven by better household sentiment regarding current economic conditions. In addition, views regarding current and future living standards as well as future spending all improved. However, expectations regarding employment opportunities remained unchanged.

FocusEconomics Consensus Forecast panelists expect private consumption to expand 2.6% in 2021, which is down 0.3 percentage points from last month’s projection. Looking at 2022, our panelists see private consumption growing 2.5%.


Author:, Junior Economist

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Korea Consumer Confidence February 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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