Korea: Consumer confidence ticks down in March
March 28, 2018
The composite consumer sentiment index compiled by the Bank of Korea declined for the fourth consecutive month in March, coming in at 108.1 points, down slightly from the 108.2 points recorded in February. Nonetheless, consumer confidence remained above the 100-point threshold that separates optimism from pessimism among Korean households.
The reading in March was due to consumers’ increased pessimism regarding current and prospective domestic economic conditions, possibly due to trade protectionism rhetoric coming from the United States in early March. Meanwhile, optimism about future income and spending levels was unchanged compared to February, while pessimism regarding current living standards decreased slightly.
Korea Private Consumption Forecast
FocusEconomics Consensus Forecast panelists expect private consumption to expand 2.7% in 2018, which is up 0.1 percentage points from last month’s forecast. For 2019, the panel sees private consumption growth at 2.5%.
Author: Edward Gardner, Economist