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Korea Consumer Confidence March 2023

Korea: Consumers least pessimistic since June 2022 in March 2023

Consumer sentiment came in at 92.0 in March, up from February’s 90.2. March’s result marked the best reading since June 2022. As such, the index remained below the 100-point threshold, signaling that consumers were pessimistic.

The decrease in the index was due to households becoming less pessimistic about the economy and their living standards in the present and 12 months ahead. Households also became less pessimistic about their prospective incomes. Less positively, households became more pessimistic about their future spending.

Consumer expectations for inflation a year ahead stood at 3.9% in March (February: 4.0%).

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