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Korea Consumer Confidence May 2023

Korea: Consumer sentiment hits one-year high in May

Consumer sentiment rose to 98.0 in May from April’s 95.1. May’s result was the strongest since May 2022. However, the index remained below the 100-point threshold, signaling pessimism 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 stood at 3.5% in May (April : 3.7%).

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