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Korea Consumer Confidence May 2021

Korea: Consumer confidence picks up in May

Consumer confidence rose to 105.2 in May from April’s 102.2. May’s result marked the strongest sentiment since June 2018. As a result, the index moved further above the 100-point threshold, signaling optimism among consumers despite lingering restrictions.

Looking at the details, households’ view on current domestic economic conditions grew less pessimistic, and there was an improvement in expectations of the future of the economy. In addition, expectations regarding future employment opportunities became less downbeat, while households grew more optimistic about spending, boding well for private consumption. However, households remained pessimistic about their current and future living standards.

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