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Korea Consumer Confidence December 2019

Korea: Consumer confidence weakens slightly in December

The Bank of Korea’s composite consumer sentiment index decreased to 100.5 in December from 100.9 in November. Nevertheless, the index remained slightly above the 100-point threshold that separates optimism from pessimism among households.

The fall in consumer confidence in December was largely driven by households’ more pessimistic view towards future living standards and household income. Moreover, households’ current ability to save also weakened in November. That said, households had a rosier outlook on both current and future domestic economic conditions.

Looking ahead, both monetary and fiscal stimulus should support consumer confidence. Moreover, less uncertainty over the U.S.-China trade war and thawing political tensions with Japan should also boost sentiment among households.

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