Consumer confidence in South Korea decreased to 92.50 index points in August 2019 from 95.90 index points in the previous month. That was the lowest reading since January 2017, as global trade concerns alongside the recent dispute with Japan continued to weigh on the economy. The subindex measuring expectations for future household livelihood sank 3 points to 89, the lowest since March 2009 and that for future household income also was down 2 points to 94, the worst since April 2009. Meantime, the current living standards subindex declined 1 point to 90 and consumers' expectations for future spending were also down 2 points to 105. Meantime, prospects for job opportunities worsened with the index falling 3 points to 74 while inflation expectations were at a record low of 2 percent in August. Consumer Confidence in South Korea averaged 100.73 Index Points from 1998 until 2019, reaching an all time high of 120.60 Index Points in October of 2009 and a record low of 69.40 Index Points in December of 2008.
Consumer Confidence in South Korea is expected to be 99.30 Index Points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Consumer Confidence in South Korea to stand at 103.00 in 12 months time. In the long-term, the South Korea Consumer Confidence is projected to trend around 102.90 Index Points in 2020, according to our econometric models.