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Korea Consumer Confidence July 2023

Korea: Consumer confidence rises to over one-year high in July

Consumer confidence rose to 103.2 in July from June’s 100.7. July’s result marked the strongest sentiment since April 2022. With the uptick, the index moved further above the 100-point threshold, indicating stronger optimism among consumers.

The increase in the index was mostly due to households becoming less pessimistic about the economy in the present and 12 months ahead.

Consumer expectations for inflation a year ahead declined to 3.3% in July (June: 3.5%).

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