Korea Consumer Confidence October 2021

Korea

Korea: Consumer confidence rises in October

October 27, 2021

Consumer confidence rose to 106.8 in October from September's 103.8. As such, the index remained above the 100-point threshold, signaling optimism among consumers.

Looking at the details of the print, households turned optimistic regarding their income over the next year, while also becoming more upbeat regarding spending. Meanwhile, consumers were less pessimistic regarding future unemployment, living standards and economic conditions.

FocusEconomics Consensus Forecast panelists expect private consumption to expand 3.4% in 2022, which is up 0.1 percentage points from last month’s projection. Looking at 2023, our panelists see private consumption growing 2.1%.


Author:, Junior Economist

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Korea Consumer Confidence Chart


Korea Consumer Confidence October 2021

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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