Overview

• South Korea’s composite consumer sentiment index jumped 8 points to 101.8 in May, its strongest level since October 2020.
• The Conference Board’s U.S. Consumer Confidence Index rose 12.3 points to 98.0 in May, marking the largest monthly gain in four years.
• South Korea’s business sentiment index climbed to 94.7 for June, up 9.7 points from May, yet remaining below the 100 threshold for the 39th consecutive month.
• Global trade tensions eased after the U.S. paused reciprocal tariffs and reached a May 12 truce with China, and Seoul and Washington are seeking a ‘July package’ tariff deal before a July 8 deadline.
• Eased political uncertainty following former President Yoon Suk Yeol’s impeachment and removal from office supported the rebound in South Korean consumer outlook.