Korea: Consumer confidence picks up but remains pessimistic in November
November 24, 2020
Consumer confidence came in at 97.9 in November, up notably from October's 91.6. November's result marked the strongest reading since January. As a result, the index moved closer to the 100-point threshold, but still indicated pessimism among consumers.
Looking at the details of the result, the improvement was broad-based, led by consumers’ significantly less pessimistic views on current and future domestic economic conditions. Moreover, household pessimism eased regarding current and future living standards and future household income. Notably, households’ views on their future spending prospects moved into optimistic territory.
Author: Frederico Teixeira de Abreu, Junior Economist