Korea: Consumer confidence records worst reading since April in November
Consumer confidence fell to 97.2 in November from October’s 98.1. November’s result marked the weakest sentiment since April. Despite the uptick, the index remained below the 100-point threshold, separating pessimism from optimism among consumers.
The print brings consumer confidence in Q4 so far further below in Q3 average, boding poorly for private spending in the quarter. Sentiment has likely been depressed by high interest rates; Korean households have some of the highest average debt burdens in the world