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Financial News: South Korea Consumer Confidence Eases In March

South Korea Consumer Confidence Eases In March

03/26/2024 - 02:34:00 (RTTNews)

(RTTNews) - South Korea's consumer sentiment decreased in March from a 6-month high in February, survey results from the Bank of Korea showed on Tuesday.

The consumer confidence index dropped to 100.7 in March from 101.9 in the previous month.

The consumer confidence survey was conducted between March 12 and 19 among 2,500 households.

The sub-index for households' assessment of current living standards weakened slightly to 89 from 90, and the measure for prospective living standards declined to 93 from 94.

Similarly, the index measuring consumers' prospective household income fell to 99 from 100.

South Koreans were slightly more pessimistic about their job prospects, and the relevant index rose to 84 from 83.

Their interest rate expectations decreased in February, with the measure falling to 98 from 100.

The expected inflation rate for the upcoming year was 3.2 percent, up from 3.0 percent in February.

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