Korea: Consumer confidence deteriorates in July
Consumer confidence fell to 103.2 in July from June’s 110.3. As a result, the index remained above the 100-point threshold, and indicated optimism among consumers.
Looking at the details of the print, households turned pessimistic regarding both current and future economic conditions, which drove the overall drop in confidence over the previous month in July.. Moreover, expectations of future employment also deteriorated, amid a surge in Covid-19 cases from early July. In addition, consumers’ views on future spending, income and living standards worsened.