SOUTH KOREA'S CONSUMER SENTIMENT - December Rebound Amid Economic Positivity
In December, South Korea's consumer sentiment witnessed a welcome upturn, breaking free from a four-month decline, as reported by a survey conducted by the Bank of Korea (BOK). The composite consumer sentiment index rose to 99.5, a notable improvement from the previous month's 97.2, signifying a shift in the prevailing pessimism.
Several factors contributed to this positive shift in consumer sentiment. One significant influence was the moderation in inflationary pressures, a key concern for both consumers and policymakers. The survey revealed a decline in inflation expectations, with individuals anticipating a 3.2 percent increase in consumer prices for the upcoming year, down from the previous month's projection of 3.4 percent. This easing in inflation expectations is crucial as it alleviates potential pressures on businesses to raise prices, thereby contributing to a more stable economic environment.
The recovery in export activities also played a pivotal role in buoying consumer sentiment. With exports bouncing back, there was a sense of optimism driven by improved economic prospects. This positive sentiment was further reinforced by hopes for a conclusion to the Federal Reserve's rate-hiking cycle. Consumers appeared optimistic about the potential end to interest rate increases, which could have positive implications for borrowing costs and overall economic conditions.
While inflation remained a concern, the survey indicated a slowdown in the pace of price increases. In November, consumer prices rose by 3.3 percent year-on-year, a moderation compared to the 3.8 percent increase recorded in the previous month. However, the Bank of Korea maintained a cautious stance, acknowledging that inflationary pressures could persist, with expectations that inflation would remain above the target rate of 2 percent.
In light of these economic dynamics, the Bank of Korea decided to keep its key interest rate unchanged at 3.5 percent for the seventh consecutive time. This decision followed a series of seven consecutive rate hikes from April 2022 to January 2023, reflecting the central bank's efforts to navigate a delicate balance between addressing inflationary concerns and supporting economic growth.
In summary, South Korea's consumer sentiment rebounded in December, driven by factors such as moderating inflation, a recovery in exports, and optimistic expectations regarding the Federal Reserve's rate policy. The easing of inflationary pressures and the positive outlook on external economic factors contributed to a more favorable environment, offering a glimmer of optimism for the nation's economic trajectory in the coming months.
출처 : 스피쿠스
기사 제목: 한국의 소비자 심리, 12월 경제적 긍정성 속 반등
12월 한국의 소비자 심리가 경제적 긍정성 가운데 반등을 보였습니다. 한국은행(BOK)이 실시한 조사에 따르면, 4개월 연속 하락세를 벗어나 종합 소비자 심리 지수가 99.5로 상승했으며, 이는 전월 97.2 대비 눈에 띄는 개선을 의미합니다.
이러한 긍정적인 변화에는 여러 요인이 기여했습니다. 물가 압력의 완화는 소비자와 정책 입안자 모두에게 중요한 문제로, 조사에서는 인플레이션 기대가 하락하여 내년 소비자 가격 상승률을 3.2%로 전망했으며, 이는 전월 전망치 3.4%에서 하락한 수치입니다. 또한 수출 활동의 회복도 소비자 심리를 지지하는 중요한 역할을 했습니다.
단어 학습:
- Consumer Sentiment (소비자 심리) - 소비자의 경제 상황에 대한 인식 및 태도.
• Example: Despite economic challenges, the consumer sentiment index showed signs of improvement. - Inflationary Pressures (물가 압력) - 물가 상승을 유발할 수 있는 요소들.
• Example: Central banks often adjust interest rates to manage inflationary pressures. - Export Activities (수출 활동) - 국외로 상품이나 서비스를 판매하는 행위.
• Example: The country’s economic growth was significantly boosted by robust export activities. - Federal Reserve (연방준비제도) - 미국의 중앙은행 시스템.
• Example: The Federal Reserve’s decision on interest rates impacts global financial markets. - Economic Trajectory (경제 궤적) - 경제 상황의 발전 방향이나 경로.
• Example: Analysts are cautiously optimistic about the nation’s economic trajectory over the next year.
영어 표현:
- 1. Moderation in inflationary pressures (물가 압력의 완화)
• 의미: 일반적으로 물가 상승률이 줄어들거나, 물가 상승 압력이 완화되는 상황을 의미합니다. 이는 경제적 안정성을 나타내는 긍정적인 신호로 여겨질 수 있습니다.
• 예문: “The moderation in inflationary pressures gave the central bank more leeway in its monetary policy decisions.” - 2. Recovery in export activities (수출 활동의 회복)
• 의미: 경제 또는 특정 산업 분야에서 수출 성과가 개선되어 이전의 하락세나 부진에서 벗어나는 상황을 말합니다. 이는 국가 경제에 대한 긍정적인 전망을 시사할 수 있습니다.
• 예문: “The recovery in export activities signaled a strengthening of the global demand for our products.”
