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Korea Consumer Confidence March 2022

Korea: Consumer confidence rises slightly in March

Consumer confidence rose to 103.2 in March from February’s 103.1. As such, the index remained above the 100-point threshold, indicating sustained optimism among consumers.

The improved reading came despite the strengthening headwinds stemming from the war in Ukraine. Increased expectations among households of future spending drove consumer sentiment higher in March. This was likely related to a recent easing of Covid-19 restrictions and booming real estate prices. This outweighed an increasingly sour view of current and future economic conditions amid rising inflation. Household inflation expectations for 2022 rose to 2.9% in March from 2.7% in February.

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