Shops shutter as pessimism prevails
Published: 25 Mar. 2025, 18:53
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- KIM JU-YEON
- [email protected]
![A sign on a restaurant in Seoul informs of its closure, as pictured in this photo taken March 25. [YONHAP]](https://koreajoongangdaily.joins.com/data/photo/2025/03/25/5e5fff8b-edb7-4767-8738-3a60704b5721.jpg)
A sign on a restaurant in Seoul informs of its closure, as pictured in this photo taken March 25. [YONHAP]
A sign on a restaurant in Seoul informs of its closure, as pictured in this photo taken March 25.
Consumer confidence fell in March after three months of slowly recovering to November levels, according to the Bank of Korea on the same day.
The Consumer Sentiment Index gauges consumer confidence and is used as an economic indicator for future spending and saving. It dropped by 1.8 points from February to 93.4 due to concerns about slow economic growth.
It dropped sharply in December to 88.2 from November's 100.7 following President Yoon Suk Yeol's botched declaration of martial law.
If the index is higher than 100, it indicates a more positive outlook on the economy than the average from 2003 to 2024, while a lower number indicates a more negative outlook.
with the Korea JoongAng Daily
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